GOI and JBIC Agree to Further Strengthen Cooperation through Financial Policy Dialogue

The Japan Bank for International Cooperation (JBIC) and the Government of Indonesia (GOI) held a preparatory meeting in Jakarta, Indonesia, on February 15 and agreed to establish a framework for financial policy dialogue ("Dialogue") to deepen discussions on financial cooperation focusing on the areas such as power sector development and the environmental business projects, as well as on urgent and important issues and topics related to JBIC-financed projects.  Both parties also agreed to hold a periodic annual meeting as part of the Dialogue^*1.

The participants in the preparatory meeting included President & CEO, JBIC, Hiroshi Watanabe and Resident Executive Officer for Asia and the Oceania, Ryuichi Kaga on the JBIC side and The Minister of State Ministry of National Development Planning (BAPPENAS) Armida Salsiah Alisjahbana, Head of Fiscal Policy Office, Ministry of Finance Anggito Abimanyu and officials from other relevant government ministries and agencies on the Indonesian side.

The participants exchanged views on broad topics and discussed the framework of the Dialogue under which the both parties aim to further strengthen relationship and cooperation. Both parties agreed in its meeting to form three working teams for the discussion on the following three topics and confirmed that a periodic annual meeting be held to follow the progress of the working teams as well as to hold high level and/or technical meetings for individual topics related to JBIC's financial cooperation.

[Topics Addressed by Working Teams for 2010]
Power sector projects, including IPP and geothermal energy development
Environmental business projects
Macro economy and financial cooperation with JBIC

JBIC has fostered mutual trust and partnership with GOI over the years through financial cooperation in various areas where Japanese firms have conducted business operations, including energy resource development, infrastructure and manufacturing.  By deepening discussions on urgent and important issues,and reaching to an consensus for any pending issues expeditiously and effectively under this framework, JBIC hopes to implement future projects smoothly in the areas such as power development and environmental business, which contribute to encouraging Japanese firms' activities in Indonesia and to further strengthening economic relations between Japan and Indonesia.

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