VIVAnews - The Jakarta administration plans to initiate river dredging under the Jakarta Urgent Flood Mitigation Project (JUFMP). The World Bank has committed to finance the project by disbursing US$139.64 million worth of loans.
The debts will be repaid by taking funds from the Provincial Budget.
World Bank Consultant of Infrastructure, Arlan Rahman, said the debt is categorized specific investment loan of which tenure is 24.5 years.
"The Jakarta administration will only have to pay the interest on its debts within the first ten years," said Arlan in Jakarta.
The World Bank and London Interbank Offered Rate (Libor), said Arlan, offer loans to donor countries including Indonesia with 1.5-2 percent of interest.
