President Jokowi Invites PGII to Support Infrastructure Development in Indonesia
President Jokowi attends a side-event on the Partnership for Global Infrastructure and Investment (PGII) on the sidelines of the G7 Hiroshima Summit, at the Grand Prince Hotel Hiroshima, Japan, Saturday (05/20). (Photo by: BPMI of Presidential Secretariat/ Laily Rachev)
Indonesian President Joko “Jokowi” Widodo has invited Partnership for Global Infrastructure and Investment (PGII) to embark on cooperation with Indonesia and support infrastructure development in the country through concrete investment.
“Support from the PGII is essential for infrastructure development in Indonesia and it can be achieved through concrete investment and other innovative financial schemes. Let us collaborate for equity and welfare of the people,” the President said during a side event on the Partnership for Global Infrastructure and Investment (PGII) on the sidelines of the G7 Hiroshima Summit at the Grand Prince Hotel Hiroshima, Japan, Saturday (05/20).
According to the President, development in Indonesia used to be centralized in Java island, causing unequal distribution of population and economic activity in the country, which is home to more than 17,000 islands.
The President also underscored that Indonesia is currently developing infrastructure such as toll roads and seaports outside Java to narrow the gap.
“It includes the construction of the new capital of Nusantara (IKN), a city consisting of 70 percent green space with 80 percent of its energy to be sourced from renewable energy,” he added.
However, although the construction of the capital is financed by the State Budget and state-owned enterprises, the President revealed that Indonesia also welcomes investment from the private sector if the internal rate of return (IRR) of the development shows a positive result.
The Head of State went on to say that the new capital would showcase transformation in Indonesia that is open to investment and cooperation on various sectors. (BPMI of Presidential Secretariat/AIT) (RAS/EP)
