The Japan Bank for International Cooperation appealed to the Indonesian government to call off a policy that requires foreign oil and gas companies operating in the Asian nation to tap locally owned banks.
“Japan still sees Indonesia as a good place for investment, but it needs the government to lift the requirement [for foreign firms] to use local banks,” JBIC President Hiroshi Watanabe was quoted by Jakarta Globe as saying.
JBIC has committed some USD5 billion to support Indonesian renewable energy, water and urban transport projects in the next two years.