IslamicFinance.de

The Islamic Development Bank (IDB) has committed US$5.2 billion worth of loans until 2020 to aid Indonesia’s priority development projects. Finance Minister Bambang Brodjonegoro said the prioritized sectors include energy, transportation, urban development, higher education and skills development, private sector development and Islamic financial broadening. The IDB will work with other lenders, including the World Bank, the Asian Development Bank (ADB) and China-backed Asian Infrastructure Investment Bank (AIIB). Going forward, the IDB will prioritize efforts to shift away from dependency on commodities.