World Bank: Indonesia needs $500 bn for infrastructure

World Bank: Indonesia needs $500 bn for infrastructure

World Bank Group President Jim Yong Kim delivers a speech during the Indonesia Infrastructure Finance Forum in Jakarta, Indonesia, July 25, 2017. (Reuters photo)
World Bank Group President Jim Yong Kim delivers a speech during the Indonesia Infrastructure Finance Forum in Jakarta, Indonesia, July 25, 2017. (Reuters photo)

JAKARTA -- World Bank Group President Jim Yong Kim said on Tuesday that Indonesia needs to nearly its double public spending on infrastructure and bring in more private investment to fill an infrastructure gap of $500 billion in the next five years.

Mr Kim said Indonesia's population was growing faster than those in China, India, Vietnam and Thailand, which was putting even more strain on its creaky infrastructure.

"We estimate that Indonesia will have to invest $500 billion over the next five years to fill this infrastructure gap. To start, that means increasing central and sub-national infrastructure spending from 2.4% of GDP today to 4.7%, almost doubling as a percentage of GDP, by 2020," Mr Kim told an infrastructure conference in Jakarta.


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