Indonesia Assigns Rp3 Trillion For Asian Infrastructure Investment Bank

Jakarta, June 26 (Antara) -- The government has allocated a budget of Rp3 trillion, some US$225.4 million, to strengthen Indonesia's participation in the Asian Infrastructure Investment Bank (AIIB) initiated by China, the finance minister said. "In 2016, we have state capital of some Rp3 trillion for phase one of AIIB," Finance Minister Bambang Brodjonegoro stated here on Friday. He added that Indonesia is ready to invite a few other countries to have voting rights in this multilateral institution, which has 57 participating countries. "We invited three or four countries, including the Maldives. Most of them are member states of ASEAN," Brodjonegoro pointed out. According to the minister, the establishment of AIIB in Beijing, China, was aimed at supporting connectivity, integration and efforts to improve the economy as well as to increase the competitiveness of Asia. AIIB is also expected to narrow the gap in funding for infrastructural development, which has not been fulfilled by other multilateral banks. For Indonesia, the establishment of AIIB is vital as it can serve to expedite growth of infrastructure in the country, Brodjonegoro affirmed. Its infrastructural development program covers the sectors of energy, transportation, telecommunications, agricultural and rural infrastructure, water and sanitation, environmental protection, logistics, and other productive fields.