Indonesian firm cancels Chinese loan for its Trump project

JAKARTA, Indonesia – U.S. President Donald Trump’s son and his Indonesian business partner say a theme park that also features a Trump hotel and condos will no longer have Chinese financing.

Donald Trump Jr. said Tuesday at a news conference in Jakarta that his father is not involved in Trump-branded resorts in West Java and Bali.

In a move that alarmed Trump critics, MNC Land, the Indonesian company that is developing the theme park owned by billionaire Hary Tanoesoedibjo, said in May that it has hired a subsidiary of Chinese state-owned Metallurgical Corp. to build the park at its Lido City development outside Jakarta.

Tanoesoedibjo said the Trump Organization has nothing to do with the theme park and his company has cancelled a Chinese bank’s loan for the project.