JAKARTA (TheInsiderStories) - President and head of the United States Export Import Bank (US Exim), Kimberly A. Reed, and the coordinating minister for maritime and investment affairs, Luhut B. Panjaitan has agreed to explore various potential funding opportunities worth of US$750 million. The official signing of the cooperation will be implemented in the near future.
“The Export Import Bank of the United States is committed to enhancing economic cooperation between the two countries, and this MoU will confirm our commitment to various potential projects in Indonesia - from energy to wireless communication technology to healthcare, broadcasting - with the support of goods and services from the US, “said Reed after meet with the minister in Jakarta on Monday (10/26).
The agreement is part of the US delegation’ visit to Indonesia, Vietnam and Myanmar, led by the CEO of the US’ International Development Finance Corporation (IDFC), Adam Boehler, as well as high-ranking US’ government officials. IDFC is an investment finance institution established under the mandate of the US Congress which focuses on investment in developing countries.
“This visit specifically discussed investment opportunities in Indonesia’ Sovereign Wealth Fund (SWF), which will be formed after the existence of a derivative government regulation from the related Job Creation Law,” said the senior minister in an official statement.
SWF Indonesia will be an important instrument for infrastructure development in Indonesia, he adds. International financial investment institutions such as the Abu Dhabi Investment Authority, IDFC, Japan Bank for International Cooperation are among those involved in the consultancy process for the development of the Indonesian SWF framework.
When meeting with President Joko Widodo, Boehler said, the independent agency prepared an investment $5 billion for Indonesia. According to him, the body is new $60 billion funds focusing in investing in the emerging countries.
At the meeting, the head of state, revealed, the government need an investment from the private parties to fund many infrastructure projects in the country. He assured, that Indonesia will continues to make a policy breakthrough to support and create a friendly investment climate through the omnibus law.
Previously, IDFC and the government had discussed various projects such as light rapid transit, Trans Java, Trans Sumatra, tourism, hydropower in North Kalimantan, and renewable energy projects. Beside met Panjaitan, the delegation also meet with the minister of foreign Affairs and the state-owned enterpriss minister.
Written by Editorial Staff, Email: theinsiderstories@gmail.com
