February 21, 2023
On February 20, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Republic of Indonesia in Jakarta, to provide a Japanese ODA loan of up to 30,000 million yen for the COVID-19 Crisis Response Emergency Support Loan (Competitiveness, Industrial Modernization and Trade Acceleration Program).
The objective of the project is to promote investment in the private sector by improving the business and investment environment for post-COVID-19 in Indonesia, where the economy was greatly affected by the spread of COVID-19 infection, through providing budget support, thereby contributing to the socio-economic stability and the promotion of development efforts.This project will contribute to the achievement of SDGs (Sustainable Development Goals) Goals 1 (End poverty in all its forms everywhere), 3 (Ensure healthy lives and promote well-being for all at all ages) and 8 (Decent work and economic growth).
Details for the project are provided below.
1. Terms and Amount of Loan
|Annual interest rate (%)||Repayment
|COVID-19 Crisis Response Emergency Support Loan (Competitiveness, Industrial Modernization and Trade Acceleration Program)||30,000||0.01||N/A||15||4||General untied|
2. Executing Agency
Coordinating Ministry for Economic Affairs
Address: Jalan Lapangan Banteng Timur Nomor 2-4, Jakarta Pusat, 10710Jakarta, Indonesia
3. Planned Implementation Schedule
(1) Completion of project: March 2023 – when the disbursement is completed.
(2) Issuing of letters of invitation for consulting services (including detailed design work): No hiring of consultants is planned for this loan program.
(3) Tender announcement of initial procurement package for international competitive bidding on project construction: No work in conjunction with bidding is planned for this loan program.