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Jakarta Post

IFC to disburse $300 million to finance Indonesian tourism

  • Rachmadea Aisyah

    The Jakarta Post

Jakarta   /   Thu, June 13 2019   /  01:24 am

The International Finance Cooperation (IFC) of the World Bank Group has committed to further supporting the Indonesian government’s efforts to accelerate tourism development in key destinations beyond Java and Bali.For the fiscal year from July 2019 to June 2020, the IFC plans to disburse US$300 million to finance private corporations seeking to engage in Indonesia’s tourism sector, IFC country manager for Indonesia, Malaysia and Timor Leste, Azam Khan said.“We have about $300 million we want to invest in tourism [in Indonesia] and we already have it in our pipeline,” Khan told reporters in Jakarta recently. “We cannot disclose the names of the companies [who will receive the financing] yet, but they mostly develop tourist businesses in Indonesia.”The IFC, said Khan, believed that catalyzing more investment toward tourism operators would encourage the sector, which offers sig...