World Bank approves $300 million loan for Indonesia's financial sector reforms
Reuters
Published Mar 23, 2020 02:51AM ET
JAKARTA (Reuters) - The World Bank said on Monday it has approved a $300 million loan for Indonesia to assist in financial sector reforms.
The loan will provide budget support for Indonesia's reform agenda by expanding financial market outreach, allowing more focus on technology, and promoting sustainable finance practice, it said in a statement.
The approval came after the Indonesian government announced that the 2020 budget deficit may widen beyond its current forecast of 2.5% of gross domestic product amid pressures from coronavirus outbreak.
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Written By: Reuters
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