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OPIC EVP tours Kuala Tanjung port in visit to promote US investment in Southeast Asia
Monday, September 24, 2018
It was one of several visits by OPIC officials visiting Southeast Asia on a trip to promote US investment in the region, strengthen partnerships, and find opportunities to work with regional allies on projects that drive economic growth and stability throughout the region.
“Indonesia is a significant maritime nation and an important player on the world stage,” said Bohigian.
“With Indonesia bordering the Straits of Malacca, port development is crucial to enhancing both global and local trade. The Overseas Private Investment Corporation continues to invest in projects that develop free and open societies while adhering to the highest global standards.
“We look forward to strengthening our partnership with Indonesia and our allies in the region to identify investments in ports and other infrastructure to create greater economic opportunities for the citizens and nations of Southeast Asia.”
Once completed the Kuala Tanjung port is expected to be the largest port in western Indonesia, and will serve as an international transit hub and manufacturing hub, according to port officials.
OPIC has a history of partnering with allies in the region and has recently signed memorandums of understanding with Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI), and with Australia’s Department of Foreign Affairs and Trade.
Since 1974, OPIC has committed $2.35 billion in finance and insurance across 116 projects in Indonesia, covering a range of sectors, from energy to healthcare. On July 2, 2018, President Joko Widodo inaugurated Indonesia’s first wind plant in Sulawesi, Indonesia, which was supported by $120 million in OPIC financing.
OPIC is the US government’s development finance institution. As part of his National Security Strategy, President Donald Trump highlighted the need for a modernized approach by the US government to development finance to help grow aspiring partners, promote economic relationships, and increase investment in regions important to American interests.