Wahyu Dwi Anggoro
IDXChannel - The United States (US) has welcomed the launch of the USD649 million Indonesia Infrastructure and Finance Compact, a five-year grant between the Millennium Challenge Corporation (MCC), a US government foreign aid agency, and the Government of Indonesia.
The MCC grant is expected to double US development assistance to Indonesia over the next five years, augmenting development assistance from the US Agency for International Development (USAID) of approximately USD130 million annually.
“The focus of this compact — blended finance for public infrastructure, and access to finance for women-owned small businesses — is a testament to the ingenuity and sophistication of the U.S.-Indonesia partnership,” said US Ambassador to Indonesia Kamala S Lakhdhir in a media release on Thursday (5/9/2024).
“Indonesia needs trillions of dollars of investment in clean and sustainable infrastructure to support its rapidly growing economy. Mobilizing private capital through blended finance will be critical," Lakhdhir said,
According to the Ambassador, MSMEs are the backbone of Indonesia’s rapidly growing economy, and the vast majority are owned by women. Better access to finance will help them grow their small businesses.”
