WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin and Minister of Finance Sri Mulyani Indrawati of the Republic of Indonesia remotely completed the signing of the Cooperation Framework to Strengthen Infrastructure Finance and Market Building on September 18, 2020.
This cooperative initiative is designed to achieve the mutual goals of the United States and the Republic of Indonesia to support infrastructure development through market-oriented, private sector investment.
Under this cooperative framework, the United States and the Republic of Indonesia will address regulatory, market, and legal barriers to private sector investment by focusing on the development of financial instruments, project finance, the local debt market, and capital markets.
“Infrastructure development is critical to economic growth and long-term recovery from the effects of COVID-19. This framework supports economic growth and our shared goals to meet infrastructure needs through market-oriented, private sector investment,” said Secretary Mnuchin.
The first Working Group meeting under this framework agreement will convene virtually September 22-23, 2020.
The engagement supports the broader U.S. Government Indo-Pacific Strategy by complementing ongoing efforts under the Enhancing Development and Growth through Energy (Asia EDGE) and the Infrastructure Transaction and Assistance Network (ITAN).