Widodo plans land bank to kick-start infrastructure projects

Jakarta

INDONESIAN President Joko Widodo will start a land bank this year, turning his focus to accelerating infrastructure projects after freeing up budget funds in the biggest overhaul of the country's fuel subsidy programme.

Mr Widodo, known as Jokowi, will establish a land bank that will be jointly managed by the finance, public works and transportation ministries, Finance Minister Bambang Brodjonegoro said in an interview with Bloomberg TV Indonesia earlier this week. He has also ordered agencies to complete all procurement for infrastructure projects this year by the end of March, the minister said.