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Economy in brief: Jokowi lauds AIIB’s help for Indonesia
President Joko “Jokowi” Widodo voiced his support toward China-backed Asian Infrastructure Investment Bank’s (AIIB) programs to help accelerate economic growth in Asian countries during the bank’s delegation visit to Bogor Palace in West Java on Monday
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resident Joko “Jokowi” Widodo voiced his support toward China-backed Asian Infrastructure Investment Bank’s (AIIB) programs to help accelerate economic growth in Asian countries during the bank’s delegation visit to Bogor Palace in West Java on Monday.
After the meeting, Finance Minister Sri Mulyani Indrawati said Indonesia became the first of AIIB’s projects in its early operation year, in which the bank, along with other multilateral institutions, had agreed to provide loans worth US$216 million to support the country’s National Slum Upgrading Program in 2016.
“As for now, Indonesia is one of the biggest shareholders in AIIB,” she said.
In 2017, AIIB and Indonesia collaborated in two projects, with the first one, costing $100 million, aimed at providing people with access to clean water and sanitation, building flood and waste management as well as redeveloping slum areas.
The second was a long-term government-backed project costing $125 million, which was targeted to improve Indonesia’s ability in management of dams.
Also on Monday, Public Works and Housing Minister Basuki Hadimuljono said his team was proposing a collaboration with AIIB in irrigation projects, as some of the ongoing construction of dams were scheduled for completion this year.
