Indonesia would propose a reform on global financial institution at the London G20 summit in a bid to help emerging market exit from global crisis, a senior official of the Office of the Coordinating Minister for Economy said on Friday.

International cooperation deputy from the office Mahendra Siregar said that the International Monetary Funds (IMF), the World Bank, the Asian Development Bank and the African Development Bank, must change their policies of putting some precondition on loan disbursement, while the composition of their membership which are dominated by those from Europe and the United States, must be re-arranged.

Indonesia had experienced difficulties after borrowing loans from IMF during the ASEAN financial crisis a decade ago, the deputy told a press conference here.

There is no developing countries take the loans from the IMF recently due to the imposed precondition, he said.

Indonesian President Susilo Bambang Yudhoyno Yudhoyono is to present at the G20 Summit in London.

During summit, Indonesia would also make a proposal of providing global expenditure funds to assist developing countries to address economic difficulties in the crisis, Siregar said.

Indonesia has secured over US$5.5 billion standby loans from donor countries should the country failed raising funds from debt market to plug its US$6.2 billion stimulus package to finance huge infrastructure projects.

(Xinhua News Agency March 27, 2009)