UK Export Finance Ready to Disburse £4 Billion for Indonesian Development Projects
UK Export Finance (UKEF) has stated it is ready to disburse financing of up to £4 billion to support various development projects in Indonesia. The figure is equivalent to approximately Rp96.65 trillion, based on Bank Indonesia’s transaction rate on Wednesday afternoon which recorded £1 at Rp24,162.
HM Trade Commissioner for Asia Pacific, Martin Kent, said the financing capacity is available to provide competitive solutions for Indonesia’s future ambitions. UKEF, the British government’s export credit agency, offers financing and insurance facilities to help overseas buyers and investors execute projects using UK goods and services. The UK’s Department for Business and Trade recently allocated an additional £50 billion to the agency to expand its global operations.
Kent stated that the agency is prepared to assist stakeholders in Indonesia’s railway sector to collaborate with British experts, covering areas from planning and engineering to operations, financing, and transit-oriented development. He noted that the UK railway sector is one of the most advanced in the world, employing around 100,000 people and exporting over £1 billion worth of equipment and services annually.
He emphasised that this provides a differentiating factor in the cooperation offered by the UK, demonstrating a long-term commitment to providing innovative export financing tailored to Indonesia’s specific needs. Kent also highlighted the active participation of British companies in the development of Indonesia’s modern transport networks, including contributions to Jakarta’s first MRT project and a crucial role in ensuring the operational readiness of the Jabodebek LRT system.
This support is a continuation of long-term programmes such as Future Cities and UK PACT. Kent expressed hope that the railway forum would strengthen the partnership between Indonesia and the UK in project financing and transit-oriented development, which are vital for realising modern urban railway systems that benefit the entire community and economy of Indonesia.