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US Exim Bank Agrees to Fund Projects in Indonesia Worth $750 Million

October 26, 2020, 05.37 PM

JAKARTA, - Export-Import Bank of the United States (Exim) has secured an concurrence with Indonesia to sign a $750 million memorandum of understanding (MoU) in support of various industries in the country.

The agreement took place following a meeting between Exim President and Chairman Kimberly A. Reed and Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan in Jakarta on Sunday, October 25.

The MoU aims to promote investment in Indonesia and enhance the strong alliance and trading relationship of the two nations in energy, healthcare, and communications technology, among others.

Also readIMF: Indonesia Economy to Contract 1.5 Percent Next Year due to Covid-19

“We welcome the proposed MoU and look forward to more US business investment and participation in our infrastructure, energy, transportation, and telecommunications projects,” Luhut said in a statement.

He added that the MoU between Exim and Indonesia is scheduled to be signed soon.

“It was a very productive discussion with Minister Pandjaitan. I am pleased to announce the $750 million MoU with Indonesia,” Reed said, adding that Exim is committed to strengthening economic cooperation between both countries.

“This MoU reiterates our commitment to support various potential projects in Indonesia. From energy, wireless communications technology [4G+/5G] to healthcare, and broadcasting with the support of goods and services from the US,” he added.

Also readJokowi Optimistic Indonesian Economy Will Grow in 2021 Despite Covid-19

The meeting with the Indonesian senior minister was part of the programs during the visit by the US delegation to Indonesia, Vietnam, and Myanmar. The delegation was led by US International Development Finance Corporation (DFC) Chief Executive Officer Adam Boehler. Accompanying him were senior government officials from the US Departments of Commerce, Energy, State, and Treasury.

On October 23, Luhut met with Boehler for the second time, discussing the Sovereign Wealth Fund (SWF). Previously, they met in January when Boehler was also received by Indonesian President Joko Widodo.

(Writer: Ade Miranti Karunia | Editor: Erlangga Djumena)


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