COVID-19: Government of Indonesia to Bailout Twelve State-Owned Firms Amounting to USD 8.6 Billion

The Government of Indonesia is preparing a COVID-19 bailout package worth USD 8.6 billion mainly in terms of cash compensation and working capital investments for twelve state-owned companies, according to documents issued by the Ministry of Finance.

According to a spokesperson from Indonesia’s Ministry of Finance, the aforesaid documents have been used in early-stage discussions with lawmakers and are yet to receive the approval of Joko Widodo, the President of Indonesia. This bailout funding is expected to be issued in addition to the capital injection plans made available prior to the spread of the COVID-19 pandemic.

Among the firms expected to benefit from this bailout inc...