INDONESIA WOOS CHINESE INVESTORS WITH PROJECTS WORTH $60 BILLION
Indonesia is offering new projects worth up to $60 billion to Chinese investors in a bid to capitalize on Beijing’s Belt and Road initiative (BRI), a senior official said, despite growing concern about the strings tied to some of the loans worldwide, Reuters reports. The Jakarta-Bandung fast train railway line is part of BRI’s project. It is also part of President Joko “Jokowi” Widodo’s ambition to upgrade Indonesia’s lagging infrastructure. The Belt and Road Initiative project faced problems when in Indonesia’s neighboring country Malaysia, its Prime Minister Mahathir Mohammad shelved two major infrastructure projects for being simply too expensive for his debt-ridden country.