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ADB approves 500 mln USD loan for Indonesia’s economic recovery

The Asian Development Bank (ADB) has approved a 500 million USD loan to help Indonesia recover its economy following COVID-19 pandemic.
ADB approves 500 mln USD loan for Indonesia’s economic recovery ảnh 1A corner of Jakarta, Indonesia. (Photo: AFP/VNA)

Jakarta (VNA) - The AsianDevelopment Bank (ADB) has approved a 500 million USD loan to help Indonesia recoverits economy following COVID-19 pandemic.

Director of the ADB’s Human and Social Development for Southeast Asia AyakoInagaki said on November 22 that the loan is expected to help Indonesia improveits human capital, increase labour productivity and carry out reforms ineducation, skills development, health as well as social protection.

The programme will also support key reforms to help the Governmentreach the health and education targets of the United Nations’ SustainableDevelopment Goals.

The new loan finances the first of three subprogrammesunder the Boosting Productivity through Human Capital Development Programme.The programme combines policy-based loans with technical assistance andknowledge support. By focusing on health, education, and social protection, itaims to help Indonesia lift its human capital index to 59 percent in 2026.

An annual growth rate of at least 7 percent is needed for Indonesia torealise its aspiration to become a high-income country by 2045. A skilledworkforce is key to Indonesia’s transition to high-tech manufacturing andhigher value-added exports./.

VNA
#Asian Development Bank#ADB#COVID-19#skilled workforce#human capital#Vietnamplus#vietnam news agency
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