SEOUL, KOREA - Korea EximBank will provide a loan of US$85 million to Indonesia through the Economic Development Cooperation Fund. An official of the state-run bank said on March 23, "We have decided to lend $50 million to the wastewater treatment facility in Batam and $35 million to purchase high-speed patrol boats for the Indonesian coast guard."

 

Lim Sung-hyuk, Korea EximBank senior manager responsible for international economic cooperation, met on the 21st in Indonesia's capital Jakarta Robert Pakpahan, director general with the Ministry of Finance, and signed the loan agreement.

 

The Batam project calls for building a sewage treatment plant, mediation pumping stations, and sewage pipes in the city of Batam on the same-name island. The patrol boat project involves purchasing five high-speed boats for the coast guard to help its policing duties. "The latest EDCF funding to Indonesia will strengthen Korea's presence in Indonesia and other ASEAN member countries in the region," Mr. Lim added.