A $1 billion joint investment fund (JIF) launched by Qatar and Indonesia is in its completion stages and is expected to fund major infrastructure and energy projects, a report said.
Indonesia’s 15 per cent share of the JIF is ready, Dr Alwi Abdurrahman Shihab, special envoy to the Indonesian president for Middle East Affairs, was quoted as saying in the Gulf Times report.
“The government is just waiting for the Qatar Investment Authority (QIA) to select from several projects Indonesia has prepared to start the JIF,” he added.
“This joint investment fund should be, as soon as we can, made into a reality because the Indonesians have already provided four to five projects to be picked by the Qatar Investment Authority (QIA) in order for us to show the Indonesian people that the investment is there,” Dr Shihab said.
“The reactivation of the joint investment fund in 2015 is a manifestation to improve the economic cooperation between Qatar and Indonesia. It will be utilized in infrastructure, roads, power plants, ports, mining, and communications. Negotiations are underway,” Shihab told Gulf Times on the sidelines of a meeting.
For the JIF, Qatar will provide 85 per cent of the funds, Shihab said.