KfW supports Indonesian government in reconstruction

On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and together with the United Nations Development Programme (UNDP), KfW has signed a financing agreement for EUR 25 million to fund reconstruction projects on the Indonesian islands of Sulawesi and Lombok. Both regions were severely hit by multiple earthquakes and a subsequent tsunami in August and September.

“Almost 600,000 people lost their homes due to these natural disasters in Indonesia. Important buildings, including hospitals and schools, were also destroyed. Together with UNDP, KfW hopes to support reconstruction swiftly and above all sustainably,” says Prof. Joachim Nagel, Executive Vice President of KfW Group.

The project is composed of two parts. The first involves addressing the immediate vital needs of the local residences by restoring medical and educational infrastructure as well as waste disposal. The other part is to revive the economy sustainably by building important connecting roads and market halls. The buildings are to be constructed according to energy efficiency standards, which will help keep operating costs for buildings and grounds as low as possible.

Original source: KfW
Published on 12 December 2018