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Indonesia,Saudi Arabia : ISDB offers USD45M to INDONESIA EXIMBANK

June 30, 2014

The Islamic Development Bank (IsDB) has provided Indonesia Eximbank with a three-year service tenure loan worth US $45 million, in a bid to boost the country's trade with IsDB member countries.

Eximbank stated : "The loan would be used to directly and indirectly support exports on goods and services in infrastructure, agriculture and manufacture sectors."

It added that it would also be used to fund imports on machinery, equipment and raw materials from the IsDB member countries.

Eximbank secured the loan at the recent 39th Annual Meeting of the IsDB held in Jeddah, Saudi Arabia.

It said the loan showed the IsDB's confidence towards the development of the Indonesian economy in future and performance of the bank.

Indonesia has the largest Muslim community in the world that has continued to show high growth in recent years.

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Source: TendersInfo (India)

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