JAKARTA - INDONESIA has requested a standby loan of 1.9 billion dollars (S$2.82 billion) to plug a deficit in the 2009 state budget amid fears of a global recession, a World Bank official said on Friday.
'We are considering Indonesia's request, which is one among several requests from several countries,' World Bank spokesman in Indonesia Randy Salim said, adding: 'There is limited capacity for the loans.'
The borrowings would be outside standby loan commitments worth two billion dollars that can be withdrawn if the market for state bonds dries up, national development planning agency head Paskah Suzetta was quoted as saying by Antara news agency.
Indonesia earlier this month downgraded its 2009 growth forecast to between 5.5 and 6.1 per cent from an earlier projection of 6.3 per cent. -- AFP