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

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.

Tuesday, August 10, 2021 18:33

AIIB disburses 310 mln USD loan for Indonesia’s power project ảnh 1

Illustrative image (Photo: Reuters)

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

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

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

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

VNA

#Asian Infrastructure Investment Bank #Vietnamplus #Vietnam News Agency #Indonesia national power company PT PLN #power distribution network Indonesia

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