Posted inIndonesia

Indonesia’s new capital on shaky financial ground

JAKARTA – The Indonesian government is scrambling to find alternative sources of funding after Japanese conglomerate SoftBank Group Corporation withdrew from the US$32.5 billion new administrative capital in East Kalimantan, citing timely return-on-investment issues. Maritime Affairs and Investment Coordinating Minister Luhut Panjaitan said in early 2020 that the Tokyo-based venture-capital company had offered to invest […]