The Japan Bank for International Cooperation (JBIC) has signed a contract to lend Indonesian state-owned electricity company PT Perusahaan Listrik Negara funds to import power generation equipment from Japan, Nikkei reported. The funding, for which the parties signed an agreement on Monday, will be provided by the JBIC and Sumitomo Mitsui Banking will consist of yen loans totaling 16.4 billion yen (US$144 million) and dollar funding of $179 million. The JBIC’s share will include a yen portion worth roughly 9.8 billion yen and a dollar loan of about $107 million. Sumitomo Mistui’s portion will be insured by Nippon Export and Investment Insurance. The funds will be used for purchasing Thosiba steam turbine generators, IHI boilers and other equipment for high-efficiency coal-fired electricity production. The equipment will allow PLN to expand its existing power plant about 80 kilometers northwest of Jakarta. The purchases will be made through Japanese trading firm Sumitomo. The Indonesian government plans to add 35 gigawatts in power generation capacity in the 2015-2019 period.