Indonesia: alternative financing key to infrastructure development
The Non-Government Budget Investment Financing (PINA) is needed for Indonesian to develop infrastructure, said National Development Planning Minister Bambang Brodjonegoro.
Indonesian National Development Planning Minister Bambang Brodjonegoro (Photo: republika.co.id)Jakarta (VNA) - The Non-Government Budget Investment Financing (PINA) is needed for Indonesian to develop infrastructure, said National Development Planning Minister Bambang Brodjonegoro.
Brodjonegoro noted PINA will help reduce the burden on the state budget, which has been limited so far, to encourage development.
He expected the involvement of long-term funds in PINA, such as pension funds and life insurance, for the effective management and utilization of infrastructure financing.
Various financial instruments to support the PINA scheme are also being prepared, such as Perpetual Bonds with a very long tenure, which not only supports infrastructure development but also increases interest in the capital market.
Indonesia had 34 planned infrastructure projects using the PINA scheme as of December 2017, including 19 projects in toll road, four in aviation, 10 in power generation and transmission, and one in tourism. These projects cost 348.2 trillion Rp (25.8 billion USD) in total.
A number of PINA's projects, including 15 Waskita toll roads and the Kertajati International Airport, have reached financial close.-VNA
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