Sunday, 20 June 2021 | 22:26 WIB

CIMB Niaga Ready to Disburse This Amount of Fund for LRT Project Construction

LRT project in Jabodebek.

JAKARTA, NETRALNEWS.COM - CIMB Niaga is said to be ready to disburse funds of IDR2 trillion ($140 million) for the construction of Jakarta-Bogor-Depok-Bekasi (Jabodebek) Light Rail Transit (LRT) project.

"There is from CIMB Niaga willing to join. It's been said, there is IDR2 trillion," said Coordinating Minister for Marine Affairs Luhut B Panjaitan, Tuesday (8/29/2017).

In addition to CIMB Niaga, Luhut has previously ensured investors from Singapore have also made sure to disburse funds amounting to IDR2 trillion. CIMB Niaga is a merger company of Bank Lippo and CIMB Group Holding from Malaysia.

Previously, Coordinating Minister Luhut said there are investors from Singapore interested in funding the construction of Jabodebek LRT project. There has been no official agreement, he said the investor has proposed a funding bid of IDR2 trillion.

This amount would automatically make funding from domestic banks reduced. The bank funds that are planned to be needed in financing the construction of Jabodebek LRT reach IDR18-19 trillion.

However, Minister Luhut is still reluctant to mention the name of the Singaporean investor.

"Still discussing the details because this is the first time to make LRT. So supporting regulations mostly do not yet exist. It must be made to accelerate, because it will be a copy-paste for other LRT [projects]," he concluded. (*)