Friday, March 1, 2024 | 10:57 WIB

EIB to disburse Rp14.9T for projects in Indonesia

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Jakarta, IO – Vice President of the European Investment Bank (EIB) Kris Peeters said the bank plans to disburse €1 billion euros per year (Rp14.9 trillion) to fund various green and sustainable projects in Indonesia in partnership with the public and private sectors, Bisnis reported during the official opening of the EIB regional representative office for Southeast Asia and the Pacific on Friday (9/9).

EIB believes there is a €2.6 billion (Rp38.8 trillion) potential investment in various projects in Indonesia. This includes the mass transport system worth €300 million, urban renewal worth €500 million, public transportation worth €1 billion, healthcare services worth €300 million and intermediary loans to corporations worth €500 million.

Meanwhile, Finance Minister Sri Mulyani Indrawati noted that EIB’s focus on green and sustainable projects is in line with Indonesia’s national priorities.

“But to realize our Nationally Determined Contribution (NDC) target, it requires more than US$280 billion. So, €1 billion is not enough. Certainly not enough,” joked Sri Mulyani.

Read: 2,974 inducted as military reservists to strengthen national defense

EIB in particular has invested in various projects in Indonesia since 1995 with a total investment of €289 million. These include water supply projects, the energy sector, telecommunications and MSMEs. (rr)

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