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Jakarta Post

Hungary commits $250m to new joint investment fund

The Jakarta Post Image
Public Works and Housing Ministry officials (right) meet with representatives from the Hungarian Embassy in Jakarta (left) on April 21, 2021 at the former's office. (Courtesy of Public Works and Housing Ministry/.)
Dzulfiqar Fathur Rahman
Jakarta   ●   Thu, April 22, 2021

Hungary has committed US$250 million to the newly established Indonesia-Hungary Investment Fund (IHIF) to help finance the government’s infrastructure projects.

In a press statement on Wednesday, the Public Works and Housing Ministry said that the funds, to be allocated to the IHIF no later than this June, would help cover the gap between its annual budget and estimated project costs.

The government has allocated Rp 623 trillion ($42.82 billion) to the ministry’s infrastructure projects for 2020-2024, but they have an estimated cost of over Rp 2 quadrillion, more than three times the budget allocation.

“I hope the projects financed through the IHIF will have more local content and create jobs in Indonesia,” Public Works and Housing Minister Basuki Hadimuljono said in the statement.

Basuki added that Indonesian and Hu...

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