WASHINGTON: The World Bank yesterday announced it was ready to provide Indonesia with a $2 billion loan, a backstop against a potential debt crisis in one of Asia’s fastest growing economies.

The World Bank said the loan, requested by the Indonesian government, would be held as a contingency against “possible future shocks and volatility.”

While Indonesia has long seen growth rates that would be the envy of the United States or European nations, the economy has slowed recently thanks to a drop in export demand.

The Daily Sun/ Bangladesh/ 17th May 2012