Jakarta, Indonesia (News Today) - Australia will cancel A$75 million ($66.06 million) of Indonesia’s debt under a deal that will see half that amount channelled into healthcare in Indonesia, Australia’s foreign minister said on Thursday. The debt cancelled represents around 11 percent of what Indonesia owes to Australia.
Under the deal, A$37.5 million of the debt forgiven will be transferred to the Global Fund, an international public private partnership that funds tackling AIDS, malaria and tuberculosis, and the latter will be the target of the Indonesia programme.
“Australia strongly supports this Debt2Health swap with Indonesia and the Global Fund to tackle the challenge of treating and preventing tuberculosis,” Australian Foreign Minister Stephen Smith said in a statement, after meeting Indonesian counterpart Marty Natalegawa in Jakarta.
Robert Filipp, head of innovative financing at the Geneva-based Global Fund, said part of the money will be spent on ensuring tuberculosis sufferers finish their course of medication, reducing the risk of new resistant strains being created.
“The real difficulty is to retain people on the treatment,” he said.
Source : kompas
Tuesday, July 20, 2010
Australia Scraps Some Indonesia Debt in Health Deal
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