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Jakarta Post

Indonesia expands horizons to US for infrastructure funding

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Fri, October 4, 2019   /  07:38 am
The Jakarta Post Image
Infrastructure race: President Joko “Jokowi” Widodo (third from right) inspects a section of a toll road construction project in Bogor, West Java, in this file picture.(JP/Ayomi Amindoni)

The government has set its sights on diversifying its funding sources for big ticket infrastructure projects to the United States after earlier this year proposing $91.1 billion infrastructure projects to be funded by China.
Coordinating Maritime Affairs Minister Luhut Pandjaitan said Indonesia would be one of the first in the queue to participate in the US government’s development program designated for developing countries. The program will be under the International Development Finance Corporation (IDFC), which was mandated to be created by the 2018 BUILD Act.
The IDFC will finance infrastructure projects in emerging economies, a direct competition to China’s Belt Road Imitative (BRI), to counter China’s growing influence as the world’s two largest economies jolted the global economy with a trade war.
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