Indonesia to get US$7b loan from World Bank, ADB, AIIB

Indonesia will receive around US$7 billion in loans from the World Bank, Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) to finance the country's fights against COVID-19. (Shutterstock/Icatnews)

JAKARTA, April 9 (The Jakarta Post/ANN) -- Indonesia will receive around US$7 billion in loans from the World Bank, Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) to finance the country's fights against COVID-19.

Bank Indonesia (BI) Governor Perry Warjiyo said on Tuesday that the funds would be used to finance the country’s widening budget deficit of 5.07 percent of gross domestic product (GDP) to prevent a greater health crisis and economic meltdown from the COVID-19 outbreak. He, however, did not unveil the details of the planned loan.