JAKARTA: Indonesia’s finance ministry has signed a memorandum of understanding (MoU) to join a China-backed Asian infrastructure bank, a government official confirmed yesterday.
Indonesian Finance Minister Bambang Brodjonegoro on Tuesday signed the MoU with Chinese Ambassador to Indonesia, Xie Feng, in attendance.
“It was signed by the Indonesian finance minister on Tuesday,” said Foreign Ministry spokesman Michael Tene in a text message.
Indonesian Cabinet Secretary Andi Widjajanto said last week President Joko Widodo had agreed in principle to joining the bank pending two requests.
Local media reported the requests as placing the headquarters of the bank here and having Indonesia play a larger role in the institution.
The US$50 billion (RM167.50 billion) Asian Infrastructure Investment Bank, launched last month in Shanghai, is seen by the United States as a challenge to the Western-dominated World Bank and Asian Development Bank. Reuters