ADB believes the investment is necessary instruments for long-term sustainable growth and social development.
"Indonesia needs to accelerate structural reforms to transform from a commodity-based economy into an economy with a broader base. For this to happen, the necessary investments in various sectors, "said Public Management Economist in ADB's Indonesia Resident Mission Rabin Hattari in the official statement on Thursday (25/09/2014).
Hattari revealed, Indonesia requires a conducive investment climate, better infrastructure, and governance are more resilient. "This in turn will help create more productive employment and contribute to poverty reduction," he said.
The first stage is to support government policies to create a more open business climate and cost effective, expanding infrastructure financing options, and develop a public procurement process more quickly and transparently.
One concrete manifestation of this effort is to increase foreign ownership limits in connectivity project Public-Private Partnership (public-private partnership), or PPP, as well as the simplification of the process and the time required to start a new business.
The program also supports the government's initiative to expand financing options for local government infrastructure, and further improve the PPP framework to attract more private funds for infrastructure projects.
Previously, ADB has supported the development of the PPP, and the second phase of this program will continue these efforts through various reform plans, among others, as an opportunity for PPP to invest in the social sector.
Along with the help of the ADB loan, the German development bank KfW Bankengruppe government also contributed in the form of co-financing of 200 million dollars. The program which runs for 4 years is scheduled to be completed in September 2016.
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