PGII Scheme Launched at G20, Indonesia Ready to Submit Proposal for Infrastructure Fund

Several investment and infrastructure projects have the potential to be financed under the PGII scheme. Indonesia is preparing a proposal to obtain financing from the US$600 billion initiative.

AFP/SAUL LOEB

(L to R) Indonesia President Joko Widodo, US President Joe Biden and von European Commission President Ursula von der Leyen hold an event on the Partnership for Global Infrastructure and Investment on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 15, 2022.

NUSA DUA, KOMPAS - This year's Group of 20 Forum presents several financing incentives for developing nations, including Indonesia. Aside from a capital injection for energy transition, funding for investment and infrastructure development was also made available via the PGII scheme. Indonesia has prepared a proposal to obtain financing for its projects through the scheme.

The PGII scheme is a collaborative effort by Group of Seven member nations (the United States, England, Italy, Japan, Germany, Canada and France). The program is allocating US$600 billion worth of investment in the form of loans and grants for sustainable infrastructure projects in developing nations for the next five years.