International Development Finance Corporation (IDFC), an independent agency under American government, prepares an investment US$5 billion for Indonesia, said the senior minister today (01/10) - Photo by TheInsiderStories

JAKARTA TheInsiderStories) – International Development Finance Corporation (IDFC), an independent agency under American government, prepares an investment US$5 billion for Indonesia, said the senior minister today (01/10). He delivered the statement after accompany President Joko Widodo met CEO IDFC, Adam Boehler and team, at the Merdeka Palace, Jakarta.

IDFC is the development of the Overseas Private Investment Corporation, which was formed through the mandate of the United States (US) Congress. According to IDFC’ CEO, Adam Boehler, the agency is new $60 billion funds focusing in investing in the emerging countries.

“They prepared a fund around US$5 billion. They are also interested involved in a sovereign wealth fund ready to work with other SWFs (sovereign wealth fund), whether Uni Emirate Arab or Japan,” coordinating minister for economic affairs, Airlangga Hartarto, told reporters today.

At the meeting, Widodo explained, the government need investment from private parties to fund many infrastructure projects in the country. He assured, that Indonesia continues to make a policy breakthrough to support and create a friendly investment climate through the omnibus law.

Responding to president statement, Boehler confirmed, IDFC ready to help Indonesia through a private capital. The agency, he continued, is committed to improve the lives of Indonesian across the country.

“We intent to improve employment, to increase GDP per capita. There is an ultimate goal. Finally, we discussed the important of investing on hiqh quality, sustainability, infrastructure, energy, healthcare and technology information,” said the CEO.

Currently, IDFC and the government has discussed various project in the archipelago, such Trans Java, Trans Sumatera, tourism, hydro power in North Kalimantan and state-owned companies. To realize the investment, said Boehler, next month he will coming back to Indonesia. 

Earlier, the government announced, Indonesia needs Rp35,428 trillion ($2,517.71 billion) of investment in five years period to reach the six percent growth. Of the total figures, the government will contribute 9.4 percent, 8.8 percent from state-owned enterprises, and private sectors will cover 81.8 percent.

Based on national medium-term development plan for the 2020 – 2024 period, the authority will boost manufacturing and tourism sectors to reach the target. 

by Linda Silaen, Email: linda.silaen@theinsiderstories.com