Jeddah, KSA, 6 December 2022 – Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, last Tuesday met with the visiting Chairman of Indonesia’s Nusantara Capital City Authority, Mr. Bambang Susantono.

Nusantara Capital City Authority (IKN) is a cabinet-level agency formed by the Government of Indonesia tasked with managing and governing Indonesia’s future capital, the city of Nusantara in East Kalimantan. 

During the meeting which took place at IsDB Group headquarters in Jeddah, Kingdom of Saudi Arabia, President Al Jasser extended his congratulations to the Government of Indonesia on its decision to relocate the capital city from Jakarta to Nusantara and described it as a big transformation agenda to support equitable development in the country.

He then spoke of the new member-country partnership strategy (MCPS) that IsDB has prepared in cooperation with Indonesia. “IsDB’s new MCPS for Indonesia supports the country’s aspirations of securing green and sustainable infrastructure and comprehensive human development with four cross-cutting areas: Islamic finance, climate change, women and youth, and capacity development,” the IsDB President stated.

“The partnership strategy with the government of Indonesia offers complementarity and holistic services in full harmony with the national plans and priorities of the Republic of Indonesia as encapsulated in its 2022-2024 Medium Term Strategy (RPJMN) and Vision 2045,” President Al Jasser elaborated.

He then expressed the readiness of IsDB Group to cooperate and exchange experiences with IKN to support aspirations for fulfilling Indonesia’s commitment to realizing equitable development, tackling climate change, net-zero carbon emissions, and achieving SDGs through the relocation of the capital city from Jakarta to Nusantara.

According to Dr. Al Jasser, IsDB is also keen to help Indonesia mobilize the required financial resources by leveraging its leading role among the members of the Arab Coordination Group, which includes the Saudi Fund for Development, Qatar Development Fund, Abu Dhabi Development Fund, Kuwait Development Fund, and the OPEC. 

Nusantara Capital City is expected to become the number one FDI destination for priority economic sectors in Indonesia driving a sustainable utility network by implementing circular economy enablers, as well as talent development and innovation centers, with a population of 1.91 million. By 2045 and beyond, it is to strengthen its reputation as a “World City for All“ achieving net zero emission and 100% renewable energy.