ANTALYA, TURKEY (Yosefardi) – Canada Prime Minister, Justin Trudeau, on Sunday (Nov. 15) announced $14.25 million in funding to strengthen infrastructure development in Indonesia, in order 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.
The announcement was made on the margins of the G20 Leaders’ Summit, following the Prime Minister’s bilateral meeting with Indonesian President Joko Widodo.
Indonesia 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.