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3. Indonesia Receives AUD$1.5B Loan from Australian Government

Indonesia has secured an AUD $1.5 billion loan from the Australian government to mitigate the coronavirus epidemic in the country.

Australia’s Finance Minister Josh Frydenberg explained that the approval of the Rp 15.45 trillion loan was due to Indonesia’s record of sound fiscal management that has allowed it to swiftly respond to the Covid-19 crisis.

Indonesia’s Finance Minister Sri Mulyani stated that the Australian government’s loan gave the Southeast Asian nation room to maneuver several policies to mitigate the coronavirus pandemic.

The Australian government has given Indonesia 15 years to repay the AUD $1.5 billion.

Sri Mulyani explained that the loan supports the Asian Development Bank-led Covid-19 Active Response and Expenditure Support Program.

Source: https://go.kompas.com/read/2020/11/12/192910374/indonesia-receives-aud15b-loan-from-australian-government