Australia to provide Indonesia with standby loans
Nusa Dua (ANTARA News) - The Australian government is committed to facilitating Indonesia with a standby loan worth 5 billion Australian dollars in order to help the government overcome the impact of global financial crisis.
The statement was made by Australian Prime Minister Kevin Rudd in a joint press conference with Indonesian President Susilo Bambang Yudhoyono here on Wednesday.
The two heads of government were here to attend a two-day Bali Democracy Forum held here to promote democracy in Asia.
Rudd said that as a friendly and neighboring country, it is just appropriate for Australia to make the standby-loan commitment.
He also stressed the importance of regional cooperation in overcoming the impact of the global financial crisis.
In the meantime, President Susilo Bambang Yudhoyono said Indonesia had decided not to use the old format in overcoming global financial crisis such the one 10 years ago, namely by having direct cooperation with the International Monetary Funds (IMF).
Indonesia today, he said, preferred to cooperate with the World Bank, the Asian Development Bank and with a number of friendly countries such as Japan, Australia and European Union.
According to the president, the standby loans will be made available by the Australian government which could be used by Indonesia if anytime it needed the funds as a result of the financial crisis. (*)
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australia to loan indonesia 5 billion dollars
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