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Jakarta Post

Govt may name local firm as fund manager

  • The Jakarta Post

Jakarta   /   Mon, August 16 2010   /  10:27 am

The Indonesian government will likely appoint a local financial institution to manage the US$1 billion forestry fund to be provided by Norway as part of the environmental deal signed in Oslo early this year.

Coordinating Economic Minister Hatta Rajasa said the government would prefer a local but reputable financial institution to manage the fund, instead of an international agency such as the World Bank or Asian Development Bank.

“We will hire an Indonesian financial institution with an international reputation,” he told a press conference at his office on Friday.

Hatta said the financing institution would be one of topics of discussion next week at the second RI-Norway meeting on the implementation of a bilateral climate deal between the two countries.

“We will discuss the continuation of our working agreement to combat deforestation, including the dis...