Indonesia, Islamic Development Bank sign $150 mln loan for Java highway

Java (Reuters) – Indonesia and the Islamic Development Bank have signed a $150 million loan to finance a toll road project on Java island, the Indonesian finance ministry said in a statement on Monday.

The highway, which will be built from central Yogyakarta province to the eastern city of Malang, will cost an estimated total of $450 million.

The ministry said it has also obtained funding separately from the Asian Development Bank for the project.