Indonesia allocates US$2.2B to build infrastructure

Indonesia has allocated 20T Rupiah (about US$2.2B) to finance infrastructure projects in the Y 2012-2015 period to accommodate the planned economic corridor areas, a senior Indonesian official said here Thursday.

“It would be the President himself who will set priorities on infrastructure projects considered essential to accommodate the six economic corridors,” Indonesian Public Works Minister Djoko Kirmanto said in the sidelines of regional officials’ coordination meeting held here.

The Indonesian government had initially planned to set up 6 economic corridors that span west-east the country, so as to speed up growth in the regions. Each corridor area would maximize the production of local resources.

The meeting was aimed at synchronizing the regions’ resources preparedness in supporting the government’s plans to set up the economic corridors, the minister said.

He said that the synchronization efforts would be fitted with his ministry’s strategic plans, particularly in developing roads to secure the transportation in those economic corridor areas.

Djoko added that the meeting also discussed regional efforts to comply with targets set in Millennium Development Goals (MDG), low- cost housing, public sanitary, clean water projects, improving fishermen’s life quality and food resilience.—Paul A. Ebeling, Jnr. www.livetradingnews.com

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Posted by Shayne Heffernan on Mar 10th, 2011and filed underAsia, Equities, Latest News, Markets.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site