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|Date: 16 October 2009|
|Jakarta - The International Finance Corporation (IFC), the World Bank`s private investment arm, plans to invest up to US$1.2 billion in Indonesia in the next three years to help boost the country`s development.|
|"In the next three years, IFC investment will reach US$300 million to US$400 million per year focusing on long-term financing, risk sharing and equities," IFC Manager for Indonesia Adam Sack said here on Thursday (15/10/2009).|
In its long-term strategy, the IFC will boost the private sector capability to play a greater role in the face of economic challenges, he said.
"The private sector plays a crucial role in addressing the challenges. Our aim is to make our strategy have a positive impact through the development of the private sector," he said.
The IFC is planning to engage in the financial, agricultural and manufacturing sectors in the future and is eyeing investment opportunities in the electricity and housing sectors, he said.
He said the IFC is also looking into the possibility of direct investment in the banking industry to give farmers and micro, small and medium businesses wider access to financing sources.
"We will still invest in the banking sector particularly to encourage financing sources for the micro, small and medium businesses. In the future, we will explore the possibility of investment in the form of equities but their share will only reach 15-20 percent or not the majority. We are eyeing at least three more banks," he said.
So far, the IFC had invested in a number of banks and financing companies, either in the form of equities or through linkage programs, he said.(ANTARA)