Indonesia Highlights: Indonesia, US Exim Bank Ink $750M MoU on Infrastructure, Trade | Local Tourists Are Coming Back to Bali | Tangerang City Extends Partial Lockdown to Dec. 19

November 20, 2020, 01.08 AM
Tourism and Creative Economy Minister Wishnutama Kusubandio delivers his speech during the opening ceremony of Indonesia Tourism Outlook 2020 in Badung regency in Bali on Friday, November 22, 2019. KOMPAS.com/IMAM ROSIDINTourism and Creative Economy Minister Wishnutama Kusubandio delivers his speech during the opening ceremony of Indonesia Tourism Outlook 2020 in Badung regency in Bali on Friday, November 22, 2019.

KOMPAS.com – Indonesia and the US have taken their relations to another level after both parties signed a memorandum of understanding on infrastructure and trade amid the Covid-19 pandemic.

The newly signed agreement worth $750 million is a renewal of the previous agreement that was worth half a billion dollars.

Another positive story amid the pandemic came from the Indonesian resort island of Bali. Local tourists are starting to visit Bali again following the government's decision to ease partial lockdown in several regions a few months ago.

Below are excerpts from the stories in Indonesia, curated by Kompas.com editors:

1. Indonesia, US Exim Bank Ink $750 Million MoU on Infrastructure Development, Trade

(Left to Right) Indonesian Ambassador to the US Muhammad Lutfi, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan, US Exim Bank President Kimberly A. Reed pose for a picture after the MoU signing in Washington DC on Wednesday, November 18, 2020.  Dok. KBRI Washington, D.C (Left to Right) Indonesian Ambassador to the US Muhammad Lutfi, Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan, US Exim Bank President Kimberly A. Reed pose for a picture after the MoU signing in Washington DC on Wednesday, November 18, 2020.

Indonesia and the US signed a $750 million memorandum of understanding (MoU) to deepen cooperation on infrastructure development and trade in Washington DC on Wednesday, November 18.

Signing on behalf of the Indonesian government was the country’s envoy to the US Muhammad Lutfi, while the US was represented by Export-Import Bank (Exim) president and chairman Kimberly A. Reed. Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan stood as a witness for the signing ceremony.

“This MoU will further strengthen the Indonesia-US economic partnership to expand the cooperation in the field of investment and providing goods and services,” Lutfi said in a statement on Thursday, November 19.

The MoU also reaffirmed the commitment of the two nations to strengthen economic cooperation, particularly in the field of infrastructure financing, investment, and trade. The newly signed agreement worth $750 million is a renewal of the previous agreement that was worth half a billion dollars, the statement added.

Source: https://go.kompas.com/read/2020/11/19/185420274/indonesia-us-exim-bank-ink-750-million-mou-on-infrastructure-development-trade.

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