World Bank offers $12bn loans to Indonesia

The World Bank provides 12 billion U.S. dollars loans to Indonesia to help the Southeast Asia's largest economy to finance its development, President of World Bank Group Jim Yong Kim said here on Wednesday.

Kim met with Indonesian President Joko Widodo at the State Palace, saying that the lender aims to set up a strong partnership with Indonesia.

"We plan to deliver one of our largest financial commitments in the world to Indonesia," he told a press conference after his meeting with President Widodo.

The loan period would be at three to four years, according to him.

The World Bank aims to terminate extreme poverty by 2030 and lift welfare at least by 40 percent of the poorest people group in the world.