Jakarta (Antara Bali) - The National Development Planning Agency (Bappenas) has proposed a project-based lending scheme, besides four other schemes, to the Asian Development Bank (ADB) to avail of its loan commitment worth US$10 billion for Indonesia.
The Manila-based bank is still considering the agencys proposal for the project-based lending scheme by referring to the indicators of the Indonesian government-initiated loan disbursement scheme, Bappenas Deputy Head for Development Funding, Wismana Adi Suryabrata, said here on Tuesday.
The project-based lending scheme may benefit Indonesia as ADB loans will be channeled based on the governments infrastructure project matrix, he said.
He said major chunk of the ADB loans has so far been channeled to state-owned companies through policy-based loans, results-based lending and direct lending schemes.
"As we are focusing on infrastructure development, the project-based lending will directly affect the projects offered by the government," he said.
As far as policy-based loans are concerned, the indicator of loan disbursement is the outcome of the policy issued by the government, such as deregulation policy and improving investment climate, he said.
"When it comes to project-based loans, loan disbursement cannot be based merely on a project list but an indicator of loan disbursement must be drafted first," he said.
However, he added, Bappenas has not pegged the amount of loans that will accrue from each of the schemes.
Both the ADB and the government are discussing five loan schemes, including project-based lending, policy-based loans, subsidiary loan agreement, direct lending and results-based lending.
In 2015, ADB extended loans worth US$1.67 billion to Indonesia. Of the total, US$800 million came from policy-based lending in the financial market and energy sectors and US$600 million from results-based lending for electricity projects in Sumatra, according to data from ADBs official website.
Last week, ADB President Takehiko Nakao met with President Joko Widodo (Jokowi). At the meeting, Nakao offered to increase ADB loans to Indonesia to US$10 billion in the next five years from US$740 million earlier.(WDY)
