Germany's Covid-19 response package with Indonesia has a total volume of EUR820 million. The loan agreement for CARES II is set to be signed today.
"We thank Germany for the 550 million euro loan to the Government of Indonesia for the Cobid-19 Active Response and Expenditure Support (CARES) Program co-financed with ADB and AIIB," said Indonesian Deputy Minister of Finance Suahazil Nazara in a press release on Friday.
"Furthermore we appreciate that further support of the CARES program and the strengthening of the health system through medical teaching programs is under discussion," he added.
According to the deputy minister, this cooperation is needed to reduce the burden the Covid-19 pandemic puts on Indonesian economy.
CARES I and CARES II are comprehensive programs which comprise economic boast measures, provision of medical supplies as well as targeted support for low-income groups.