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Jakarta, 28 November 2006
Japan to Extend a New Yen Loan to Indonesia

1. The Government of Japan has decided to extend a Yen Loan of up to 1 billion 869 million yen* to the Government of the Republic of Indonesia for the Engineering Services for Jakarta Mass Rapid Transit System Project, with a view to extending assistance for the economic and social development efforts of Indonesia. Notes to this effect were exchanged on November 28 (Tue.) in Tokyo between Mr. Taro Aso, Minister for Foreign Affairs of Japan, and H.E. Dr. N. Hassan Wirajuda, Minister for Foreign Affairs of Indonesia.

2. In the Jakarta metropolitan area, traffic congestion is a serious problem especially during the morning and evening rush-hours due to the inadequate transportation infrastructure and the excessive dependence on road traffic. The Jakarta Mass Rapid Transit System Project is intended to increase the passenger-carrying capacity in the Jakarta metropolitan area and ease traffic congestion, through the construction of a railway (between Lebak Bulus and Dukuh Atas, total length: about 14.5 km, a part of which will be underground). Estimated total project cost is approximately 110 billion yen*. Under the current project, survey and designing part of the project will be implemented with the Yen Loan (1 billion 869 million yen*).

3. Terms and conditions of the loan:
    (1) Interest rate: 0.40% per annum (STEP: Special Terms for Economic Partnership)
    (2) Repayment period: 40 years (including a 10-year grace period)
    (3) Procurement method: Based upon STEP

4. It is expected that this Yen Loan will contribute to the strengthening of Jakarta City’s functions and the improvement of investment climate in the Jakarta metropolitan area, in addition to stabilizing the international environment surrounding Japan and strengthening Japan’s ties with Indonesia, through the stable development of Indonesia.

5. With this exchange of notes, the accumulated yen loan to Indonesia will amount to 4 trillion 42 billion 568 million yen*.