JBIC Provides IDR822 Billion Funding for Indonesia Vehicle Worthiness Facility Project

3 March 2023 04:53

Indonesia has received assistance funding from Japan for the development of a vehicle-worthiness testing facility or what's known as a proving ground.

The Indonesia International Automotive Proving Ground Company received funding amounting to IDR882 billion or equivalent to USD57,3 million from the Japan Bank for International Corporation (JBIC)

The Signing of the agreement for funding took place at JBIC Offices in Tokyo, Japan, and was witnessed by the Indonesian Minister of Transportation, Budi Karya Sumadi, and Deputy Speaker of The House, Rachmat Gobel.

The development of a proving ground in Indonesia with the help of Japanese funding is hoped to further improve the safety and eco standards of vehicles produced and sold in Indonesia and thus help boost the competitiveness of Indonesian-made vehicles on the global market.

The Indonesian government is aiming to conduct a soft launch of the proving grounds project in November 2023. In time for the 65th anniversary of Indonesia-Japan diplomatic relations.