JAKARTA (TheInsiderStories) – The International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA) will give loans US$245 million for Legok Nangka waste treatment project in West Java, the company announced on Thursday (09/26). The West Java provincial government is targeting the waste and processing project to operate in 2022.
Last month, West Java Governor Ridwan Kamil told the media that he had completed a consultation with JICA. Legok Nangka waste treatment located in Nagreg, Bandung Regency is one of the national strategic projects.
He said all phases had been passed starting from the feasibility study, forming a government and business entity cooperation team including the qualification test. Currently, the government is on the schedule to the determination of the auction, the establishment of business entities, the determination of the agreement and the financial close,” he adds.
It said Legok Nangka waste treatment is projected to accommodate 1,820 tons of garbage per day from Sumedang Regency, Bandung City, Cimahi City, Bandung Regency, West Bandung Regency, and Garut Regency in West Java.
Previously, IFC and the government of West Java province on May have signed a letter of intent to collaborate on the development and revitalization of infrastructure in Indonesia’s most populous province.
Both parties are determined to ensure West Java’ development is managed in the most sustainable way possible and IFC’ desire to invest in the province’s infrastructure will help to ensure this is achieved, the company announced in his website.
The letter of intent, the first step towards a formal agreement, was signed in Tokyo by Kamil and Vivek Pathak, IFC’s Director for East Asia and the Pacific.
“Working with the authorities in West Java to provide advice on funding infrastructure projects and corporate governance practices will help to mitigate climate impacts,” said Pathak.
The high-level agreement outlines the advisory services that IFC may provide to the West Java government. They include preparing strategic infrastructure projects for private sector funding, implementing funding schemes for infrastructure projects and strengthening the corporate governance practices of regionally-owned enterprises in West Java.
The government has already highlighted transport, water and waste management and sustainable infrastructure such as green buildings as priorities.
Written by Lexy Nantu, Email: firstname.lastname@example.org