Development banks have established the PT Indonesia Infrastructure Finance in Jakarta to boost long-term financing in infrastructure development.
IIF was formed by the Asian Development Bank, International Finance Corp., Deutsche Investitions und Entwicklungsgesellschaft or DEG, and the Indonesian government through the PT Sarana Multi Infrastrukture, Viva News reports. The shareholders’ total commitment amounts to 1.6 trillion rupiahs (USD179 million).
IIF Chief Commissioner Bambang Subianto said IIF can improve private sector participation in infrastructure development in Indonesia.
The World Bank and AusAID also helped in setting up IIF through knowledge sharing, according to IIF Managing Director Taswin Zakaria.