JAKARTA, Oct. 15 (Xinhua) -- The Asian Development Bank (ADB) has approved a policy-based loan of 500 million U.S. dollars to help strengthen Indonesia's competitiveness, advance green growth, and accelerate trade under the third subprogram of the Competitiveness, Industrial Modernization, and Trade Acceleration (CITA) Program.
Jiro Tominaga, ADB country director for Indonesia, said Wednesday the loan supports the government's long-term goal of transforming Indonesia into a high-income economy by 2045 through structural reforms and sustainable growth.
"The reforms under the CITA subprograms will help attract more investment in green and sustainable businesses, reduce trade barriers, and empower local enterprises, particularly those owned by women," Tominaga said in a press release.
According to the ADB, the initiative seeks to enhance Indonesia's investment climate, modernize its industrial base, and strengthen its capacity to address climate-related challenges. ■
