Japan will give Indonesia a 50 billion yen ($393.7 million) loan in fiscal 1998/99 (April-March) to back its economic reform programme, the Japanese embassy said on Thursday.
The loan, under Japans Official Development Assistance (ODA) programme, will be extended as part of the annual 1998/99 loan package, the embassy said in a statement after a meeting between vice foreign minister Masahiko Komura and president Suharto. Komura is in Jakarta on a two-day visit as a special envoy of prime minister Ryutaro Hashimoto.
The statement said arrangements have also been made for the disbursement of a 20 billion yen loan Japan agreed to give Indonesia in December.
