World Bank to Join Toll Road Project
Monday, 16 October, 2006 | 14:01 WIBTempo Interactive
, Jakarta: The World Bank will join financing the construction of the trans-Java toll road project that the government is offering.
The World Bank will involve its subsidiary, the International Finance Corporation, in this infrastructure project.
Andrew Steer, the Head Representative of the World Bank for Indonesia, said that the World Bank would act as the coordinator of the consortium for infrastructure projects.
“Not by joining in the auction, but by organizing the setting up of the consortium,” he said when meeting with Vice President Jusuf Kalla last week.
As regards the investment that will be disbursed in the project, Andrew stated that he could not publish details as yet.
According to him, the World Bank had financed the building of the Cikampek-Jakarta toll road some time ago.
Last September, the World Bank disbursed aid amounting to US$208 million for the construction of road and clean water projects in Java.
Previously, Lars Thunell, Executive Vice President of the International Finance Corporation, said that the IFC will increase its investment in Indonesia to around US$2.5 billion.
Currently, standing loans amounts to US$700 million and last year, loans for Indonesia reached US$250 million.