VIVAnews - Indonesia officially set up PT Indonesia Infrastructure Finance (IIF) today, August 9, in Jakarta.
The foundation was established by Asian Development Bank (ADB), the International Finance Corporation (IFC), Deutsche Investitions- und Entwicklungsgesellschaft (DEG), and the Indonesian government through PT Sarana Multi Infrastrukture (SMI).
IIF chief commissioner, Bambang Subianto, said that the launch marked the operation of IIF in Indonesia in long-term financing, especially on infrastructure development.
"The IIF can improve the participation of private sector in infrastructure development," said Bambang in Jakarta, August 9.
Despite the downturn in the world economy, according to Bambang, Indonesia is able to maintain the economic growth of more than five percent since 2008.
According to Bambang, shareholders believe that the IIF directors will complete the set mission. In addition, the IIF is expected to boost private investment to help advance infrastructure development.
The shareholders of IIF have committed to providing capital worth Rp 1.6 trillion disbursed by SMI (Rp 600 billion), ADB (Rp 400 billion), IFC (Rp 400 billion), and DEG (Rp 200 billion).
IIF managing director Taswin Zakaria said, "the World Bank and AusAID shared their ideas for the IIF setup."
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Translated by: Bonardo Maulana W
