Asian Development Bank
* Manila-based Asian Development Bank has approved two equity investments to Indonesia totaling $1.04 million, including the first direct investment in a productive enterprise in any of its developing member countries.
In a government-supported project designed to use locally manufactured goods and materials, create jobs and promote the transfer of technology, ADB will make a $40,000, 10 percent investment in the newly formed steel fabrication and galvanizing company, P. T. Kratama Belindo International. KBI, a joint venture by Indonesian and Dutch investors, will develop the country's first steel manufacturing plant in the Cilegon Industrial Estate in West Java.
In another agreement intended to strengthen Indonesia's major source of financing for small- and medium-sized enterprises, ADB agreed to provide a $1 million equity line to the Bank Pembangunan Indonesia (Bapindo). The agreement requires the Indonesian bank to make a parallel investment in private ventures of at least 35 percent of the ADB credit. Export-Import Bank
* The Export-Import Bank recently approved loan guarantees totaling $122.5 million.
The loan guarantee agreements include: a $93.5 million Japanese yen loan to Nigeria's National Electric Power Authority for the purchase of General Electric Co. gas turbine generators; a $25.5 million loan from Manufacturers Hanover Trust to the Turkish government for thermal power plant management services by New Jersey-based Foster Wheeler Energy Corp.; a $3.2 million loan to the Illinois-based Roscor Corp. for the manufacture of two mobile television production trailers for the Korean Broadcasting System's coverage of the 1985 Asian Games and the 1988 Olympic Games, and a $300,000 credit to Arizona-based Comtec Economation Inc. for the production and delivery of electronics equipment to a Chinese firm.
The bank also will provide a $63.8 million direct loan to a Korean oil company for U.S. costs in constructing a South Korean refinery.