Following the1997–1998 Asian financial crisis, Indonesia became highly aware of the need to deepen and diversify its finance sector. Under the Medium-Term Development Plan, 2004–2009 and the subsequent National Medium-term Development Plan, 2010–2014, the government thus committed to developing the country’s capital market and nonbank finance subsector.
In March 2009, the Asian Development Bank (ADB) approved a loan of $50 million to the government-owned Development Bank of the Philippines (DBP) for the Credit for Better Health Project.
A 2007 study by the Asian Development Bank (ADB) identified the lack of macroeconomic stability, high costs of doing business, inadequate infrastructure, and weak investor confidence as the key binding constraints to sustained growth and poverty reduction in the Philippines.
In 2009, Indonesia’s vertically integrated, state electricity company, Perusahaan Listrik Negara (PLN) had an ambitious plan to invest about $1.2 billion in the electricity distribution sector during 2010−2014 to reduce distribution losses and carbon dioxide (CO2) emissions. PLN intended a large part of this plan to be financed by loans from bilateral and multilateral partners.
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