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Indonesia likely to defeat Turkey to host IDB's HQ
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President Joko "Jokowi" Widodo and Emir Qatar Sheikh Tamim bin Hamad Al-Thani inspect the honor guard at Diwan Emiri Palace, Doha, Qatar, on Sept. 14, 2015. (The Jakarta Post/Andi Riza Hidayat)
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ndonesia is likely to defeat Turkey to host the Islamic Development Bank’s (IDB) headquarters, a spokesman of the bank has said. Indonesia's strategic position and role during the Organization of Islamic Cooperation (OIC) summit were two driving factors behind the decision.
IDB Indonesia country director Ibrahim Shoukry said the bank had committed to investing US$1.2 billion on projects in Indonesia over five years. When the OIC Summit was held in Jakarta, the IDB brought investors to take a closer look at Indonesia's infrastructure plans.
"It will be Indonesia or Turkey. Hopefully, the investors will choose Indonesia [for the headquarters]. In May we will hold an investors' gathering at the Jakarta Convention Center. We've been here for 31 years and are committed to staying here," he said in Jakarta on Tuesday.
In the five-year plan, Ibrahim said, the IDB would focus on sustainable projects in the country, such as infrastructure, poverty alleviation, capacity building and Islamic finance development.
"We have shown them [the investors] our infrastructure and banking system. They are fascinated with our projects," Financial Services Authority (OJK) chairman Muliaman D. Hadad told thejakartapost.com.
Indonesia, he further said, had some advantages over Turkey due to its prospective market in Asia, which is healthier than Turkey's main market, Europe. Indonesia’s market will be broader due to the ASEAN Economic Community.
"And Indonesia is more attractive than Turkey in terms of small and medium enterprise financing," Muliaman said. (ags)
