Last Updated March 29, 2010
The Japan Bank for International Cooperation (JBIC) and Mizuho Corporate Bank have signed a buyer’s credit loan with Indonesia’s Telekomunikasi for approximately US$60mn.
The loan will be used to finance the installation of a high-capacity, submarine, optic-fibre cable system around Kalimantan, Borneo.
This comes as a reaction to the rapid increase in telecommunication network services in the region, the development of which is considered a significant national agenda.
Furthermore, this is the first time that JBIC has provided a loan to Telekomunikasi, a move which the bank has partially attributed to the project using Japanese telecom machinery and equipment manufacturer, Fujitsu.
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