Jakarta Targets 1st Municipal Bond Within 1 Year as Budget Cuts Spur New Funding

1 articles · Updated · Bloomberg · Jun 12

Jakarta plans to launch Indonesia’s first municipal bond within a year, marking a new funding route for the capital after budget cuts squeezed city finances.
Governor Pramono Anung Wibowo said the administration is working with the Asian Development Bank and World Bank to structure the securities.
The bond proceeds could help fund a range of infrastructure projects already in Jakarta’s pipeline, though the city has not disclosed a target size.
If completed, the sale would open Indonesia’s municipal bond market for the first time as local governments seek to diversify revenue beyond traditional budget sources.

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