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Wednesday, January 31, 2007

RI gets 20 mln euro debt swap offer from Germany, Italy

Jakarta (ANTARA News) - Germany and Italy have offered to swap combined debts of 20 mln eur that Indonesia owes them for education and health-care projects here, National Development Planning Minister Paskah Suzetta said.

Germany and Italy would cancel the 20 mln eur in debts owed them by the government here on condition that it spent the equivalent of 10 mln eur on reconstructing schools and hospitals in disaster-hit areas, Suzetta was quoted by XFN Asia as saying.

Germany had already agreed to cancel 93.5 mln eur-worth of Indonesian

debt after a string of natural disasters here between 2004 and last year.

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