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    West Java-IFC Infrastructure Development Cooperation and Revitalization of Regional-Owned Enterprises

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    TOKYO — Visit of West Java Governor Ridwan Kamil to Japan has reached an agreement to hold a strategic collaboration with the International Finance Corporation (IFC) to develop infrastructure and revitalize Regional-Owned Enterprises (BUMD).

    The plan was born during the signing of a Letter of Intent between the West Java Provincial Government led by West Java Governor Ridwan Kamil and IFC led by the Director of the East Asia Department and Pacific Vivek Pathak in Tokyo, Japan, Monday (20/5/19) time local.

    "This is one of the collaborations with positive results during my visit to Japan besides meeting the Japanese Minister of Environment along with JICA and the Shizouka Prefecture government," said Governor Ridwan Kamil.

    The parties according to Emil — the nickname of Governor Ridwan Kamil — wished to establish cooperation in the field of investment in infrastructure development and revitalization of BUMD in order to realize sustainable development based on the principle of equality and mutual benefit.

    This collaboration is woven through the consideration that the availability of infrastructure and revitalization of BUMD in West Java in order to increase regional competitiveness and prosperity of the community requires cooperation and collaboration with various parties. "Including international financial institutions that have financial and managerial capacity to realize the BUMD Champion's mission goals," Emil said.

    He explained the scope of the cooperation discussed in the letter of intent (LoI) of the parties would include assistance in preparation of strategic infrastructure projects to be carried out using the creative financing scheme.

    IFC will also provide assistance in the framework of strengthening BUMD institutions in West Java in order to increase competitiveness and market expansion. "There are three main points that become the scope of future cooperation with IFC," Emil said.

    According to him, this LoI is the first step to form further formal cooperation with the signing of agreements that are technical and operational in accordance with the agreed scope.

    IFC itself is an international financial institution which is established as an affiliation of the World Bank with the aim of helping the development of member countries that have not developed through the provision of loans and / or participation in the private sector.

    On this occasion Governor Ridwan Kamil was also invited specifically as a panelist at the United Cities and Local Government: Urban 20 event supported by IFC, the World Bank Group at the Hilton Hotel, Tokyo.

    In a panel discussion with Mayor of Bogota Colombia Gregorie Emmanuel, the Governor explained the investment opportunities in West Java.

    IFC itself is an international financial institution that was established as an affiliation of the World Bank with the aim of assisting the development of non-developed member countries through the provision of loans and / or participation in the private sector.

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