Indonesia Plans Sukuk Issuance Worth USD 1.96 Billion to Fund 2021 Infrastructure Development: Finance Ministry

Indonesia’s Finance Ministry has announced plans to issue USD 1.96 billion (IDR 27.58 trillion) in 2021, to finance the country’s infrastructure development and boost economic growth. Speaking at a Cabinet meeting on the 21st of January 2021, the Finance Ministry’s Financial Risk Management Director General, Luky Alfirman explained that the proceeds would be used to finance 870 development projects under 11 Ministries.

This includes the Transportation Ministry, the Defence Ministry, and the Public Works and Housing Ministry (PUPR). In particular, the Transportation sector and the PUPR have been tasked with strengthening logistics and connectivity in 2020. As such, Alfirman noted that the largest proportion of funds would be allocated to the Transportation sec...