The World Bank will stop Indonesian soft loan

The World Bank and Asian Development Bank will stop soft loan for Indonesia this year because the GNP of Indonesia has reached more than US$1000. The World Bank said it will stop offering soft loans to Indonesia as the country has been promoted to the category of middle income nation starting June. Meanwhile the Asia Development Bank is considering doing the same by the end of 2008. Country director Joachim von Amsberg said the donor agency will no longer accept IDA requests from Indonesia, which already has a per capita income far exceeding $1,000 per year.