MANILA: The Asian Development Bank (ADB) said today that it has approved a US$500 million (RM2.3 billion) loan to boost Indonesia's human capital and improve labour productivity, reported Xinhua.
The Manila-based bank said the loan is the second of three subprogrammes under a programme to boost productivity through human capital development and it builds on the success of the first subprogramme approved in 2021.
"The programme is ADB's commitment to continue our close and long-standing collaboration with the government of Indonesia to help build resilient and responsive health, education and social protection systems to stimulate economic growth and reduce poverty," said ADB Country Director for Indonesia Jiro Tominaga.
"Reversing the setbacks in human development and productivity caused by the Covid-19 pandemic is among our priorities in supporting developing member countries," Tominaga said.– Bernama