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AIIB holds summit, commits to funding Indonesian infrastructure projects
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Trucks and heavy equipment are in operation at an infrastructure project in Indonesia. President Joko “Jokowi” Widodo has carried out infrastructure development in his five-year term as president. (Tempo/-)
T
he Asian Infrastructure Investment Bank (AIIB) is ready to help Indonesia develop its infrastructure in President Joko “Jokowi” Widodo’s second term in office.
President Jokowi previously said he would focus on human capital development in his second term, but infrastructure developments would remain a priority as well.
AIIB chief investment officer DJ Pandian said the agency was prepared to help finance infrastructure development in Southeast Asia’s largest economy.
“[The infrastructure projects] can be irrigation, ports, roads etc.,” Pandian told The Jakarta Post in a recent video call ahead of the 2019 AIIB Annual Meeting, which is to be held in Luxembourg from Friday to Saturday.
AIIB data show that the multilateral development bank’s investment in Indonesia as of April 2019 stood at US$940 million, most of which went into urban development and water and waste projects across the archipelago.
The development projects approved by the AIIB include the Mandalika urban and infrastructure project for 2019 to 2023, for which the bank will provide $248.4 million.
In a statement made after securing the loans in December, the Indonesia Tourism Development Corporation (ITDC) said the funds would be used to construct infrastructure and basic facilities at the SEZ Mandalika, including clean water, sanitation, drainage, waste treatment, electricity distribution, disaster mitigation and open public spaces.
