JAKARTA, Feb 20: Visiting Kuwaiti Finance Minister Yousif al-Ibrahim said on Wednesday his country plans to invest two billion dollars in various development projects in Indonesia, the state Antara news agency reported.

The Kuwaiti government is awaiting the Indonesian government’s response to our plans for direct investments, Ibrahim was quoted as saying after meeting Vice President Hamzah Haz.

He said the planned investments were aimed at helping Indonesia’s economic development but did not say in what sectors they would be or over how many years.

The Kuwaiti minister had earlier in the day held talks with President Megawati Sukarnoputri.

Ibrahim will leave Jakarta for Singapore on Thursday.

The Kuwaiti ambassador to Indonesia, Jamal al-Nesafi, has said the Gulf state previously provided $280 million in assistance to build infrastructure in Indonesia.

Another $50 million is being prepared for this year, he said.

Kuwait will also rebuild 10 villages destroyed by sectarian unrest and recent floods in the provinces of Maluku, Central Sulawesi and East Nusa Tenggara and on Madura island.

Fifty houses, a clinic, a school and places of worship will be built in each of the 10 villages.

Kuwait’s current investment in Indonesian oil exploration stands at $1.2 billion.—AFP