IDB opens country gateway office in Indonesia

Jakarta (ANTARA News) - The Islamic Development Bank (IDB) Group has officially opened a Country Gateway Office (CGO) in Indonesia to strengthen their partnership and collaboration that have existed since 1975.

"The Country Gateway office is expected to play an effective role in supporting the development priorities of the government and mediate between the IDB and Indonesian private sector," Finance Minister Bambang Brodjonegoro said while opening the IDB CGO here on Thursday evening.

The opening of the IDB CGO has coincided with the beginning of the new government that has various initiatives and new programs aimed at improving the welfare of the public, the minister noted.

"Our relationship with the IDB has been sound since 1975, but there has been a delay in bureaucracy, and it will take time to restore it. The CGO is expected to help coordinate better infrastructure funding," the minister remarked.

Previously, the IDB had a field representative in Jakarta. Any communication and transaction with the IDB entities were so far carried out from Jidda, Saudi Arabia, or from the IDB representative office in Kuala Lumpur, Malaysia.

President of the IDB Group Ahmed Mohamad Ali noted the CGO in Jakarta is expected to help strengthen the partnership between the Indonesian private sector and IDB member countries.

Trade value among the IDB member nations is also expected to increase, he added.

Indonesias infrastructure development will need US$550 billion during the 2014-2019 period, while the government and state enterprises are only able to provide some 30 percent of the total amount.

During the 2011-2014 period, the IDB provided syariah aid worth US$3.3 billion for the development of infrastructure, education, and agriculture in Indonesia.

The IDB CGO is located at Office 8 Building, Sudirman Central Business District (SCBD), Central Jakarta.

Ibrahim Shoukry is the chief, or Resident Representative, of the IDB CGO Indonesia.(*)