City of London Corp Pledges Rp52tn for Indonesia's Infrastructure



Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - The City of London Corporation has pledged 3 billion pound sterling or roughly Rp52.9 trillion to help finance infrastructure projects in Indonesia.

    “Through UK Export Finance, we fully support the constructions of infrastructure facilities in Indonesia," Lord Mayor of the City of London Corporation Peter Estlin said in a limited interview with several media in Jakarta, Wednesday, July 10.

    Like other foreign-funded infrastructure projects, London requires the involvement of British firms, which Estlin said is aimed at boosting bilateral cooperation.

    "So, one of the pre-requisites is that 20 percent of the construction activities has to be under a partnership with British companies," he said.

    The Lord Mayor said the companies involved does not have to be contractors, but can also include law services or firms engaged in other sectors. He also added that the infrastructure financing will also engages local banks.

    Estlin is in Jakarta until July 11, accompanied by representatives from the London Stock Exchange Group and the London Market Group. The mayor is scheduled to have discussions with government officials and industrial leaders on green finance and Islamic finance.