Canada agrees funding for Indonesia PPPs

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Canada agrees funding for Indonesia PPPs

Prime Minister of Canada, Justin Trudeau, has announced CAD$14.25 million in funding to strengthen infrastructure development in Indonesia.

The announcement was made on the margins of the G20 Leaders' Summit, following the Prime Minister's bilateral meeting with Indonesian President Joko Widodo. This decision aims to promote sustainable economic growth and reduce poverty in the country.

Canada is partnering with the World Bank, through the Accelerating Sustainable Public-Private Investments for Infrastructure Renewal (ASPIRE) project, to assist Indonesia in preparing the legal and regulatory groundwork required for critical public-private partnership (P3) infrastructure projects. This includes the establishment and operationalization of a P3 Centre in Indonesia.

Rt. Hon. Justin Trudeau, Prime Minister of Canada. stated:

"Canada's economic growth was made possible by building ambitiously. Our government believes that modern infrastructure is one of the key ingredients of a healthy economy-it creates jobs, makes economies more competitive, and strengthens our communities. With the project announced today, Canada will help Indonesia kick-start some critical infrastructure projects, promoting employment and growth, and reducing poverty."

Canada and Indonesia have maintained a strong bilateral relationship since the establishment of diplomatic relations in 1952. The country has emerged as Canada's largest export market ($2.03 billion in 2014) in the Association of South-East Nations (ASEAN) region and is an important destination for Canadian foreign direct investment abroad (a stock of $4.32 billion in 2014). Canadian exports nearly doubled from 2010 to 2014.

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