EU to Invest $37 Million in Indonesian Infrastructure Development Projects

KOMPAS.com – The European Union (EU) will bring 31 million euro ($37.7 million) worth of investment into Indonesia through the country’s financing company PT Sarana Multi Infrastruktur (Persero), or SMI, said an envoy on Wednesday.

Vincent Piket, Indonesia's Ambassador to the EU, said that the investment aims to promote the Sustainable Development Goals (SDGs) - the blueprint set by the United Nations in 2015 to achieve a better and more sustainable future for all.

“The funds will be used for the investment in various sectors, mainly in infrastructure development,” said Vincent during a virtual talk titled EU and Indonesia: A Look Back at 2020 & Look Ahead to 2021 on January 13.

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Piket further added that the EU could increase its investment in the future.

“We hope the cooperation will become an extraordinary partnership and it can grow other prospective investment sectors in Indonesia,” said Piket.

The envoy also hoped that the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) would soon reach an agreement, which will bring benefits for both parties in trade cooperation.

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“This mechanism can help achieve sustainable development in Indonesia,” Piket said.
Going forward, the EU member countries will invest in Indonesia through the IEU-CEPA in the future. Piket said that the IEU-CEPA would also facilitate the export of agricultural products from Indonesia to Europe.

(Writer: Danur Lambang Pristiandaru | Editor: Danur Lambang Pristiandaru)

Source: https://www.kompas.com/global/read/2021/01/13/130915670/uni-eropa-gelontorkan-rp-653-miliar-untuk-indonesia-lewat-pt-smi.