The Japan Bank for International Cooperation (JBIC) held the Sixth Annual Meeting for the Financial Policy Dialogue with the Government of Indonesia in Jakarta on October 20, 2016.
Held since August 2010, the annual meeting aims to have comprehensive high-level discussions on issues on the infrastructure projects supported by JBIC, as well as macroeconomic policies, for the enhancement of the cooperative relationship between Indonesia and Japan. Under this framework, the individual working groups have been held on the theme of infrastructure, macroeconomics and oil and gas.
For this year's meeting, the attendees from JBIC included Tadashi Maeda (CEO, Executive Managing Director), Hideo Naito (Global Head of Infrastructure and Environment Finance Group ), Munetaka Horiguchi (Executive Officer for Asia and Pacific), and members of staff from Oil and Gas Finance Department, New Energy and Power Finance Department I and II, Social Infrastructure Finance Department, Country Credit Department, and the Representative Office in Jakarta. From Indonesia, Mardiasmo(Vice Minister of Finance), Suahasil Nazara (Head of Fiscal Policy Agency, Ministry of Finance) and officials and staff from Ministry of Energy and Mineral Resources, Ministry of National Development Planning (BAPPENAS), and state-owned enterprises.
At this annual meeting, JBIC and PT PLN (Persero) signed a loan agreement for buyer's credit (export credit) for providing funds to purchase Japanese-made facilities which are needed to construct the 800 MW Jawa-2 gas-fired combined cycle power plant in Tanjung Priok, a subdistrict of Jakarta on the island of Java, Indonesia.
The Indonesian side presented the medium-term national development plan, macroeconomic policies, and the progress status and action plan for infrastructure projects focusing on power and transportation sectors. They also expressed their expectations for deepening the cooperative relationship with JBIC by utilizing the framework of Financial Policy Dialogue, for achieving continuous progress in infrastructure projects and further economic growth of Indonesia.
Responding to this, JBIC expressed its intention to continue to cooperate for further progress in infrastructure projects and economic development of Indonesia, through sharing of knowledge for developing PPP (Public-Private Partnership) projects, after discussing the future agendas for accelerating the progress of infrastructure projects. JBIC also introduced its past support for infrastructure development, power sector in particular, and oil and gas projects, as well as its efforts in strengthening its relationship with Indonesia through the support provided to the Indonesian government in issuing Samurai bonds.
JBIC will continue to hold discussions with ministries and state-owned enterprises of Indonesia under the framework of this policy dialogue, to provide support not only to Japanese companies expanding their businesses in Indonesia, but to a wide range of sectors for Indonesia's economic growth.