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Jakarta Post

Jakarta, West Java to get $1.14b loan from govt to boost economy

  • Adrian Wail Akhlas

    Jakarta

Jakarta   /   Wed, July 29 2020   /  01:00 am
Motorists ride past giant electronic billboards promoting the fight against the COVID-19 coronavirus pandemic in Jakarta on July 21, 2020. (AFP/BAY ISMOYO )

The government approved on Monday a Rp 16.5 trillion (US$1.14 billion) loan for the Jakarta and West Java administrations, the country’s top economic and industrial hubs, to revive economic activity during the coronavirus pandemic. Jakarta will borrow Rp 4.5 trillion from the government this year and will borrow another Rp 8 trillion next year to pay for several infrastructure projects on waste management, drinking water management and flood control, among other projects. West Java will borrow Rp 1.9 trillion from the government this year and another Rp 2.09 trillion next year to pay for various infrastructure projects, including hospital, road and housing projects. “Both Jakarta and West Java contributed around 30 percent to Indonesia’s GDP. Therefore, this agreement will help support economic recovery efforts while also upholding COVID-19 health protocols,&rd...