Indonesia approves 1 bln USD budget increase for new capital
Indonesia’s parliamentary budget committee has approved additional 15 trillion IDR (1.01 billion USD) to speed up the construction of the flagship new capital Nusantara on Borneo island, the committee’s chair Said Abdullah announced on June 9, according to Business world.in.
Indonesian President Joko Widodo (Photo:businessworld.in)
Hanoi (VNA) - Indonesia’s parliamentary budget committee hasapproved additional 15 trillion IDR (1.01 billion USD) to speed up the constructionof t🦹he flagship new capital Nusantara on Borneo island, the committ꧟ee’s chair Said Abdullah announced on June 9, according to Business world.in.
The official was quoted as saying the additional money will go to this year's construction, on top ofthe 22 trillion IDR previously allocated for developing Nusantara in 2023. Indonesia is pushing to complete the capital's mainadministrative offices, including the presidential palace and key ministerialbuildings, with at least 16,000 civil servants, military and police due to movethere next year.
President Joko Widodo has pledged that only 20% of the totalproject's cost of 32 billion USD will come from the government's pocket, withthe rest from the private sector.
The new capital will be about 2,000 km northeastof Jakarta. Afte⭕r the capital is moved to Nusantara, Jakarta will still be thefinancial and commercial centre of Indonesia./.
The Indonesian government has called on Czech investors to join developing environmentally friendly mass transportation in the future capital of Nusantara.
Indonesia and Japan have signed five memoranda of understanding (MoUs) and 24 letters of intent (LoIs) on the development of the new Indonesian capital (IKN) of Nusantara, the Nusantara Capital City Authority (OIKN) has informed.
Indonesian Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono has invited Singaporean investors to invest in the new capital city of Nusantara (IKN).
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Indonesian President Joko Widodo (Photo:businessworld.in) 
