Subsequent development policy loans for Indonesia will be approved by the World Bank Group annually over the next seven years.
In August 2004, the Executive Directors of the World Bank Group approved a new operational policy (8.60, Development Policy Lending [DPL]) that replaced a host of separate adjustment lending instruments and codified all policy-based lending. As only the third development policy loan approved by the Bank Group, the First Development Policy Loan for Indonesia serves as an early testing ground for the policy. The loan, approved at a time when economic and political stabilization continues to be Indonesia's primary objective, is designed to maintain macroeconomic stability, enhance the country's investment climate, and improve public financial management and anti-corruption efforts. Subsequent development policy loans for Indonesia will be approved by the Bank Group annually during each of the next seven years.
P092663: Approved Dec. 21, 2004
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