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INA, China Exim Bank to joint finance RI strategic projects
Indonesia's sovereign wealth fund and the China Exim Bank have signed an agreement to cooperate on investments in infrastructure, renewable energy and telecommunications, particularly for priority projects in Indonesia.
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Steam rises from a geothermal power plant operated by PT Pertamina Geothermal Energy in this undated handout photo.
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overeign wealth fund Indonesia Investment Authority (INA) has signed a framework agreement with the Export-Import Bank of China (China Exim Bank) to deepen their economic and investment cooperation in the infrastructure, renewable energy and telecommunications sectors.
“As INA joins forces with [China Exim Bank], we’re not just forging an economic partnership, we are also deepening the bond between the two countries,” INA CEO Ridha Wirakusumah said in a statement on Monday, welcoming the new agreement.
In the same statement, China Exim Bank vice president Chen Bin said: “Both parties share compatibility in various fields, such as new infrastructure and green development.”
One of the many potential areas for cooperation includes joint financing for projects in Indonesia, or setting up specially earmarked funds for such projects in the country.
INA and China Exim Bank also stated they were keen to explore strategic projects in Indonesia for possible financing, though neither party disclosed the investment potential of the cooperation.
The scope of their cooperation also extends to mutual information sharing on economic trends, financial insights and market overviews, all the while ensuring compliance with the prevailing regulations.
The agreement’s investment scope covers various asset classes, including common equity, preferred equity and convertible debt instruments, according to the statement.
