Millennium Challenge Corporation’s (MCC) CEO Alice Albright recently visited Indonesia to review the progress on the USD 649 million Indonesia Infrastructure and Finance Compact, which is set to launch in September. This grant is aimed at addressing the country’s infrastructure needs while also improving access to financing for small and medium enterprises (SMEs).
Albright remarked that the collaboration between MCC and Indonesia, which began nearly two decades ago, has now led to investments exceeding USD 1 billion. She emphasized that the latest compact could provide Indonesians with opportunities to expand their businesses and access new markets, particularly through better financial support and improved infrastructure.
The Indonesia Infrastructure and Finance Compact is designed to enhance financial access for transport and logistics infrastructure projects, as well as SMEs, with a focus on enterprises owned by women. The compact’s objectives align with Indonesia’s broader goals of improving connectivity and supporting the growth of smaller businesses, which are crucial to the country’s economy.
This latest initiative builds on MCC’s earlier programs in Indonesia. In 2006, MCC launched a USD 55 million Threshold Program that focused on public health improvements, such as a national immunization strategy and healthcare worker training, alongside efforts to reduce corruption. This was followed by a USD 474 million Compact, concluded in 2018, that targeted public procurement reforms, clean energy deployment, and nutritional improvements.
(Source: IDX Channel)
