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Jakarta Post

US to finance Indonesia’s multibillion development projects

  • Eisya A. Eloksari and Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Fri, January 10, 2020   /  05:16 pm
The Jakarta Post Image
President Joko "Jokowi" Widodo.(Antara/Hafidz Mubarak A)

Indonesia is slated to secure US$5 billion in development funds from the United States’ financing arm for developing countries and more from the American private sector, following investments from China and the United Arab Emirates (UAE). The US’ International Development Finance Corporation (IDFC), said to be a direct competition to China’s growing influence in projects across developing countries through the Belt and Road Initiative (BRI), arrived in Jakarta on Friday to cements its participation in Indonesia’s development projects. “I welcome the DFC's commitment to supporting the Indonesian government’s priority programs, especially in infrastructure development, energy and digital technology,” President Joko “Jokowi” Widodo said in the opening remarks of his meeting with IDFC representatives and US delegates at the Stat...