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The International Finance Corporation (IFC), a member of the World Bank Group, plans to expand its presence in Indonesia with a multifold increase in long-term financing commitment to support the country’s private sector.
The IFC, which focuses on private-sector development in emerging economies, has committed US$5.7 billion in long-term financing in Indonesia over the past decade, according to Alfonso Garcia Mora, IFC regional vice president for Asia and the Pacific.
The Washington-based international financial institution wants to raise this long-term financing commitment to roughly $12 billion over the next five or six years, delivering $1 billion worth of investment per year, if Indonesia continues implementing key reforms.
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