JAKARTA, Sept. 26 (Xinhua) -- A senior official at Indonesia's largest private bank, Bank Central Asia (BCA), said on Wednesday that the bank has allocated some 20 trillion rupiah (about 2 billion U.S. dollars) of loans this year to finance infrastructure projects across the country.
"BCA has a strong commitment in encouraging the development of infrastructure that would eventually boost the real sector in the country," Jahja Setiaatmadja, BCA president director said after witnessing the signing of a syndication loan agreement to finance a toll road project in West Java province.
The toll road project connecting Cikampek and Palimanan regencies requires a total fund of 8.8 trillion rupiah (about 915. 2 million US dollars).
BCA contributes 2.2 trillion rupiah (about 228.8 million U.S. dollars) from the total fund provided by the bank syndication of 22 banks operating in the country, the largest news portal of Indonesia detik.com reported.
"Infrastructure projects, such as toll roads, airports and seaports, require long-term finance assistance whose service period could last in 15 to 20 years," he said.
BCA had a total asset of more than 300 trillion rupiah (about 31.2 billion U.S. dollars) as of last year.
Indonesia is intensifying infrastructure development at home in an anticipation of the flooding in of investors for business expansion here.
The largest economy in the Southeast Asia region earned Investment Grade ratings awarded by two international rating agencies earlier this year. The growth is expected to reach 6.5 percent this year and 7.2 percent next year along with recoveries in global economies.