Developing IKN, Government States It Will Use the 2024 State Budget of Rp40 Trillion

Develop IKN, Government Says Using APBN 2024 Amounting to Rp40 Trillion

"Bambang Susantono, Head of the National Capital Authority (OIKN), revealed that the government has only allocated Rp 40 trillion in the State Revenue and Expenditure Budget (APBN) for the year 2024 for the development of basic infrastructure in the National Capital region. 'The 2024 APBN allocates around Rp 40 trillion for the development of IKN infrastructure,' said Bambang Susantono, as quoted by Antara on Monday (8/1/2024)."

Use the State Budget

The infrastructure being developed in IKN using the state budget has the characteristics of a public good. This means that non-commercial development such as roads, clean water supply, waste management sector, and other things must be managed by the central government.

"Allocation of funds from the state budget (APBN) also includes for the development of Special Regional Government (Pemdasus) of Nusantara City,"

"ujarnya." translates to "he/she said."

Details about the continuation of the development of basic infrastructure for the future capital city of Indonesia, which uses a budget of Rp 40 trillion from the National Budget 2024, are under the responsibility of the Ministry of Public Works and People's Housing (PUPR).
"Certainly, a budget of Rp 40 trillion from the state budget (APBN) is used to continue the development of basic infrastructure in the Nusantara City area," he added."

Source: Liputan6

The following is the translation of the 'Bahasa' text to 'English' while preserving any html tags: "The IKN Authority has a target to showcase a smart city ecosystem by 2024, with the aim of making the area a comfortable and efficient place to live. The process of building this smart city ecosystem involves collaboration with domestic investors, foreign investors, and domestic-international joint investors. The development of IKN focuses on parts of Penajam Paser Utara Regency and Kutai Kartanegara Regency in East Kalimantan Province, with funding coming from the state budget (APBN)."

"Source of Funds IKN"

Besides that, the IKN development fund is also sourced from partnerships between the government and private sector (public private partnership), government cooperation with business entities (KPBU), as well as investments from the private sector, State-Owned Enterprises (BUMN), and Regional-Owned Enterprises (BUMD).

Investment in IKN is targeted to reach Rp 100 trillion in 2024, not from the state budget (APBN).

The translation of the given 'Bahasa' text to 'English' while preserving any html tags is as follows:

Project Progress of IKN Nusantara continues to be accelerated. As known, the IKN project has become a symbol of efforts to equalize development in Indonesia. The presence of IKN is expected to shift the center of investment that has been concentrated on the island of Java.

Investment in IKN is targeted to reach Rp 100 trillion in 2024, not from the state budget (APBN).

"In an effort to accelerate development, the IKN Authority stated that the investment target for the development of the Nusantara Capital in 2024 will not come from the State Budget (non-APBN), but from other sources, with an estimated amount of Rp100 trillion. "We are optimistic that there will be even more investors who will invest long-term capital in Nusantara Capital in 2024," said Head of OIKN Bambang Susantono."

Explanation from the Head of OIKN

It states that the funding for the development of the national capital in parts of Penajam Paser Utara Regency and Kutai Kartanegara Regency, East Kalimantan Province, is around Rp466 trillion, with approximately 19-20 percent of it coming from the state budget (APBN), as conveyed by President Joko Widodo (Jokowi).

"Sudah Ada 23 Investor" translates to "There are already 23 investors" in English.

"Until 2023," he said, "there are 23 domestic investors who have started development in the new capital city of Indonesia with a non-state budget investment value of around Rp41 trillion."

According to him, the investments that have been and will enter this new capital city come from various sectors with diverse investment scales.

President Jokowi is scheduled to once again lay the foundation stone to mark the beginning of new physical construction in Nusantara City from January to February 2024, involving approximately 15 investors.

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