Purbaya: Investors and Danantara are the Main Sources of PFII Development Funds

Minister of Finance of the Republic of Indonesia, Purbaya Yudhi Sadewa. (Aris Nurjani/VOI)

JAKARTA - Minister of Finance Purbaya Yudhi Sadewa emphasized that the development of the Indonesian International Financial Center (PFII) was not entirely financed through the State Budget (APBN).

Purbaya explained that investors will be the first party to pour funds for the development of PFII.

"So not all of the state budget, wait for investors to issue the first funds to build there, it includes various things, quite a lot of money, not the state budget," he explained at the APBN KITA Press Conference, Tuesday, July 21.

However, he said that if the funds provided by investors were not sufficient, the government opened the possibility of using the state budget as temporary funding for certain needs.

"But in case they lack money to pay salaries, they can be closed by the state budget for a certain period of time. So not all of it is the state budget, so it's a special case," he said.

He added that the main funding for the project would come from investors and the Anagata Nusantara Power Investment Management Agency (Danantara).

When asked about the amount of capital that Danantara would allocate for the construction of the PFII, Purbaya was reluctant to disclose the amount.

"There is, but you ask Danantara, the number is clear, but it is not my authority to issue that number," he said.

Although the state budget will still be prepared as a source of reserve funding, Purbaya estimates that the need for funds from the state treasury will not be large, because the funds prepared by Danantara are considered more than enough to support the development of the project.

"For the first funding, yes, but I anticipate it won't be too big because what Danantara has poured out, in my opinion, is more than enough, this is just for precaution," he said.