New York offers Jakarta assistance on municipal bond plan
New York City has offered to send financial experts to Jakarta to help the capital prepare for its planned municipal bond issuance, as Governor Pramono Anung seeks new ways to finance infrastructure projects amid tighter fiscal space.
Governor Pramono Anung of Jakarta has approached New York City for assistance in preparing for the city's planned municipal bond issuance, as the capital seeks new financing options for infrastructure projects in a tight fiscal environment. During a bilateral meeting in New York on Sunday, during the Urban 20 Mayors Summit, New York Mayor Zohran Mamdani pledged support for Jakarta's bond plan and offered to dispatch financial experts to share their knowledge of the issuance process with Jakarta officials.
Mayor Mamdani expressed enthusiasm for the plan, stating that New York is eager to help the Jakarta government with the process. New York has previously utilized municipal bonds to fund public infrastructure and utilities, providing Jakarta with the chance to learn from the city's experience as it prepares for what Pramono has called Indonesia's first municipal bond issuance.
The bonds will be issued in stages, with a projected total of up to Rp 5.6 trillion (US$340 million) between 2027 and 2028. The funds will be used to finance major infrastructure projects, including the expansion of Jakarta's light rail transit (LRT) system and the construction of a new hospital.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
