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Jakarta Post

Guarantee fund to go into effect this year

  • Benget Besalicto Tnb.

    THE JAKARTA POST

JAKARTA   /   Mon, February 23 2009   /  10:55 am

The government will start operating the infrastructure guarantee fund this year with an initial fund of Rp 1 trillion allocated from the 2009 state budget, a senior official said Saturday. “We’ve finalized the draft of the regulation on the guarantee fund; now we’re waiting for President to sign it,” Bambang Susantono, infrastructure deputy to the coordinating minister for the economy, told The Jakarta Post. “I think we can start in the next few months.” He added the guarantee was “necessary to attract investors in developing infrastructure projects”. It was also important, he went on, to avoid any cancellation of infrastructure development, which is badly needed by Indonesia to accelerate economic growth and improve competitiveness at the international level, which is on a decline. He said the government regulation would rule what kind of infra...