AIIB disburses 310 mln USD loan for Indonesia’s power project

Illustrative image (Photo: Reuters)

Hanoi (VNA) – The Asian Infrastructure Investment Bank (AIIB) has begun disbursing the 310 million USD loan, which was approved in February 2021, for the Indonesia national power company PT PLN.

In an announcement on August 10, PT PLN said the sum will be used to benefit its customers in Java and Bali. In the project, it will ensure power supply to all residents in East Java, especially in islands around Madura and Bali.

AIIB Senior Private Sector Operations Specialist Ziwei Liao said the project will target about 920,000 new clients. Over 863,000 of them are households and the remaining from business and industrial sectors, and Government agencies. Moreover, over 13 million people will be connected with the company’s power distribution network.

AIIB considers funding power projects an important part in its operations in the Southeast Asian country./.