The Indonesian government has offered 225 projects to the Islamic Development Bank (IDB) during the third IDB Sovereign Investment forum in Bali.
Finance Minister Sri Mulyani is offering the investment opportunities through the state-owned infrastructure financing firm PT Sarana Multi Infrastruktur (PT SMI).
“Those projects include one electricity project, 19 railway projects, 17 airport projects, 13 seaport projects, 25 new economic zones and irrigation projects,” said Sri Mulyani on Tuesday as reported by kontan.co.id.
Indonesia has been trying to collect funds for infrastructure development using various ways, including public-private partnerships, state-owned enterprises and the involvement of Finance Ministry as a facilitator.
“PT SMI is the right company to bridge the funds collection,” she added.
Meanwhile, IDB president Badar H. Hajjar said Indonesia was a promising country for investment
The IDB and the Indonesian government had been involved in a good cooperation agreement since 2016. The bank had been involved in financing various projects worth US$7 billion, including $1.5 billion agreed last year, Hajjar added.
Meanwhile, the new investment agreement signed on Monday included project co-financing in the form of loans, co-investment, capacity building for sharia businesses and financing through PT SMI to be used to obtain sovereign wealth funds.