Jakarta presses ahead with municipal bonds despite pushback - Jakarta - The Jakarta Post

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Jakarta

Tap and go: Passengers tap electronic fare cards after disembarking from an LRT train on June 22 at Velodrome Station in East Jakarta. (Antara/M Risyal Hidayat)

Jakarta Governor Pramono Anung presses ahead with his plan to issue municipal bonds to fund transportation and healthcare projects amid a slashed budget and despite pushback from a reluctant finance minister.Pramono’s special staffer for communications Cyril “Chico” Hakim told The Jakarta Post on Monday that Jakarta would gradually issue its municipal bonds with a size of between Rp 5.2 trillion (US$294 million) and 5.6 trillion by 2027, though the fixed number is still under review.

“The City Council, meanwhile, is currently deliberating the proposal," Chico said.