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Finance

JBIC to provide direct loan to Indonesia's state-run utility

TOKYO -- The Japan Bank for International Cooperation has signed a contract to lend Indonesian state-owned electricity company PLN funds to import power generation equipment from Japan.

     This is the government-owned financial institution's first direct loan to the utility. The funding, for which the parties signed an agreement on Monday, will be provided by the JBIC and Sumitomo Mitsui Banking. It will consist of yen loans totaling 16.4 billion yen ($144 million) and dollar funding of $179 million. 

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