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Jakarta Post

OPIC to double investment in Indonesia over next five years

  • Rachmadea Aisyah

    The Jakarta Post

PREMIUM
JAKARTA   /   Sun, June 30, 2019   /  03:49 pm
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The 100-hectare Sidrap wind farm in Sindereng Rappang regency, South Sulawesi, Indonesia's first wind power project, was inaugurated by President Joko “Jokowi” Widodo in July last year. The wind power plant was financed by the United States’ Overseas Private Investment Corporation.(Courtesy of /Presidential Palace)

The Overseas Private Investment Corporation (OPIC) is seeking to strengthen its presence in Indonesia by doubling its investment in Southeast Asia's largest economy over the next five years. The government-backed investment firm was confident about increasing its investment to US$250 million by 2024 from the current figure of $125 million, OPIC chief of staff Eric Jones told reporters in a press briefing on June 24. “With the largest economy in Southeast Asia, strong economic growth and Jakarta on track to become the world’s largest urban area within a decade, Indonesia stands as an example of how investment in infrastructure and technology drives development,” Jones said in a recent limited media briefing. OPIC’s expansion plan is in line with its plan to upgrade its status from an agency to a corporation called the US International Development Finan...