World Bank approves US$500 million financing for Indonesia disaster response

World Bank approves US$500 million financing for Indonesia disaster response
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JAKARTA (Jan 22): The World Bank said on Friday it has approved a US$500 million loan for Indonesia to strengthen its financial response to natural disasters, climate risks, and health-related shocks.

"This support will help the government deliver a more targeted and timely response, reducing the impact of disasters and helping to protect Indonesia's development progress," Finance Minister Sri Mulyani said in a statement.

Indonesia, an archipelago located at the so-called "Pacific ring of fire", has nearly 130 active volcanoes and is hit regularly by earthquakes and sometimes by tsunami.

A recent 6.2-magnitude quake in West Sulawesi killed at least 84 people and displaced more than 30,000.