President Jokowi thanks AIIB

13 March, 2018 | Source: Antara News

Indonesian President Joko Widodo (Jokowi) thanked the Asian Infrastructure Investment Bank (AIIB) for funding several Indonesia`s infrastructure projects.

Speaking at a meeting with the AIIB delegation at Bogor`s Presidential Palace here on Monday, the head of state also expressed his high appreciation for the bank`s role over these past two years.

The AIIB has so far helped fund three ongoing infrastructure projects in Indonesia.

Following the meeting, Chairman of the AIIB delegation Christopher Legg remarked that the Government of Indonesia is keen to work with AIIB in resolving challenges in building infrastructure.

Hence, President Widodo has urged the AIIB to be more efficient and effective in finalizing deals with Indonesia.

Speaking in connection with the request, Legg, who is the representative of AIIB Australia, noted that the bank had only disbursed loans for three projects in Indonesia as the AIIB had just operated for two years and had still maintained stable management, with the human resources and representative offices.

"We have offered 20 loans in two years, of which three are for Indonesia. I hope this would grow step-by-step to at least four to five billion in the next two years, and Indonesia will receive a significant part of the funds. However, it should be applied in accordance with the needs of each region," he emphasized.

During the meeting, President Jokowi lauded the AIIB for supporting Indonesia`s infrastructure development and conveyed his best wishes for the bank`s future.

"I want to thank you for taking a part in financing some infrastructure in Indonesia in the first two years," he remarked.

The president also welcomed the AIIB delegation to visit some construction sites in Indonesia, such as the Mass Rapid Transit in Jakarta and toll roads in the Yogyakarta Special Region, as well as in Solo, Central Java.

Indonesia is one of the founders and shareholders of AIIB that was established in 2016.

During the first two years of AIIB`s operations, Indonesia had received US$216.5 million in loans to finance three projects: elevating slum areas program, regional infrastructure development fund, and damage rehabilitation and safety operational safety fund II.

Some members of Jokowi`s cabinet comprising Coordinating Minister of Economy Darmin Nasution, Finance Minister Sri Mulyani, Public Works and People`s Housing Minister Basuki Hadimuljono, and Cabinet Secretary Pramono Anung also attended the meeting with AIIB.

Legg`s delegates comprised representatives from some AIIB member countries: Indonesia, Kazakhstan, Turkey, France, Italy, Bangladesh, India, the United Kingdom, Laos, Israel, and Poland.

 

Strong consolidation needed to face global economic turbulence Reporter: Agus Salim 3 hours ago President Joko Widodo (Jokowi) addressing at a ceremony commemorating the 50th anniversary of the Indonesian Chamber of Commerce and Industry (Kadin) on Monday night. (Agus Salim) Jakarta (ANTARA News) - President Joko Widodo (Jokowi) reminded the country`s fiscal and monetary authorities and the business of the need for strong coordination and consolidation to face the global economic uncertainties. "Uncertainties in the global condition, trade war between the United States and China, increase in interest rate, crisis in Argentina and Turkey, would necessitate strong consolidation and coordination between the monetary and fiscal authorities and the business sector," Jokowi said addressing a ceremony commemorating the 50th anniversary of the Indonesian Chamber of Commerce and Industry (Kadin) here on Monday night. He said good coordination and consolidation would make it easier to develop the public and market confidence. "It is the same as in developing a corporation. Trust brand is vital. The state needs that. Building up trust and market confidence that the international communities, domestic market believe that we are working seriously to settle state problems," he said. He said Indonesia is a big country with a population of 263 million, the fourth largest in the world, having 17,000 islands and made up of 34 provinces. "It is not easy to manage such big country . Each area has own cases, and requirement different from each other," he added. He said developing Indonesia concerns not only economic and political aspects. "If we are concerned only with economic and political gains we need only to focus on development of Java, which is home to 60 percent of the country`s population, but we think of a nation. We are concerned not only with expanding business empire leaving Papua, North Maluku, NTT and other eastern Indonesian regions to suffer in backwardness," he said. Currently imbalance is still wide in infrastructure between the country`s western, central and eastern regions, he said, adding Indonesia is seeking to catch up with other countries. He cited three years earlier, Indonesia had only 231 water reservoirs and dams as against 6,000 dams in the United States and 110,000 dams in China. "This is fact that has to be presented and we have to do something about it," he said. He also spoke about progress made in the construction of toll roads saying after the Jagorawi toll road was operational until early 2015, Indonesia had only 780 km of toll road as against China`s toll roads totaling 280,000 km. "We need to know the condition we are in before we start working hard to make up for the gap especially in eastern Indonesia," he said. Reporting by Agus Salim Editing by Albert Saragih Editor: Bustanuddin COPYRIGHT © ANTARA 2018 AddThis Sharing Buttons Share to FacebookShare to TwitterShare to Google+Share to WhatsAppShare to LINEShare to PinterestShare to GmailShare to EmailShare to More Prev News Indonesia calls for reconciliation and justice for peace Next News Puan attends UN meeting on world peace Comments
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