ADB Offers $200m Loan to Boost Local Govt Reforms
October 04, 2011
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The Asian Development Bank announced on Tuesday that it would be offering $200 million in aid to Indonesia to help eradicate poverty and boost growth at the local level.
The 15-year loan, part of the organization’s local government finance and governance reform program, is intended to help Indonesia’s regional governments deal with decentralized finances and services.
“Since 2001 national government has been devolving key expenditure and revenue functions to regional governments which are now responsible for the delivery of most basic services,” said Juan Luis Gomez, Senior Public Management Specialist at ADB.
“Strengthening regional governments so they spend state funds effectively and provide services efficiently and equitably is essential for improving local living standards and reducing poverty.”
ADB said the program is looking for reforms in six core areas, including stronger local management of decentralized funds, more efficient regional administration to improve delivery of services and developing more local sources of revenue.
ADB has estimated the initial $200 million loan could result in a direct economic benefit of around $800 million.
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