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Home >> Business
UPDATED: 09:10, August 04, 2006
Indonesia, Germany agree on debt-swap
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Germany agreed on Thursday to swap Indonesia's 25 million euro debt with development of environment in the country, and assist 10 million euro for building a hospital in South Sulawesi province, Germany representative official Manfred Kiefer said in Jakarta.

The elimination of the debt is under the condition that Indonesia must provide funds, valued at a half of the debt, to fund the program of investment on developing technology that no poor impact on environment, said Kiefer.

On the 10 million euro assistance, he said that 1 million euro was given in grant and the rest was loan.

Indonesia is a tropical country that still has much rain forest which is functioning as world lung.

Source: Xinhua


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