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Contingent Facility against Possible Future Shocks and Volatility in Global Financial Markets

  • Region: Asia
  • Others
  • Untied Loans
NR /2012-24
July 19, 2012
  1. The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on July 18 a loan agreement with the Government of the Republic of Indonesia totaling up to 120 billion yen. Similar to the financial support provided to Indonesia in April 2009, this Contingent Facility is offered upon request from its government and is in parallel financing with the World Bank, the Asian Development Bank and the Government of Australia (hereinafter the "Development Partners")*1.   
     
  2. This Contingent Facility is designed to enhance the Government of Indonesia's crisis preparedness to address the potential adverse impacts of continued international financial market volatility on Indonesia's economy, in cooperation with the Development Partners.
     
  3. Indonesia is one of the most important countries for Japan strategically in view of its substantial supply of natural resources, its key geographic location for sea transport, and strong economic ties through trade and investment with Japan. Offering this Contingent Facility enables Indonesia not only to strengthen a close relationship with Japan, but also to enhance its credit standing and confidence in international financial markets, thereby contributing to the stability of financial order in the entire Asian region. 
     
  4. In responding to disruptions in international financial order, JBIC will continue to make necessary efforts.
Note
  1. *1 See Press Release on April 7, 2009.

 

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