Softbank Withdraws Investment in IKN, This is the Government’s Response

JAKARTA, KOMPAS.com – Japanese venture capital company, Softbankwithdrew from funding the National Capital project (IKN) is new in East Kalimantan. Inevitably, the investment worth 100 billion US dollars failed to be obtained by RI.

Softbank’s resignation occurred even when Indonesian President Joko Widodo appointed the CEO SoftBank Masayoshi Son as a board member of the IKN project steering committee.

Son was appointed alongside Abu Dhabi’s crown prince Mohammed bin Zayed Al Nahyan and former British Prime Minister Tony Blair.

Also read: Softbank Withdraws from Investing US$100 Billion in IKN, What’s the Reason?

So, what is the fate of the funding for this fantastic value project?

The head of the IKN Communications Team, Sidik Pramono, said that the financing for IKN development remained at the initial intention, which was to use the State Budget (APBN) to a minimum.

Funding can come from the private sector (private sectors) and other creative funding.

“In principle, IKN development financing can come from the State Budget and other legal sources of funding according to the provisions of the legislation. The portion of APBN financing is strived to be as minimal as possible,” said Sidik when contacted by Kompas.com, Saturday (12/3/2022).

Sidik said that funding commitments from outside parties are still in the early stages. The realization will be discussed further with the government.

The commitment of parties outside the government regarding financing is still in its early stages. In the future, of course, everything will be discussed in more detail with the Government.

Also read: Jokowi Asks for Accelerated Land Completion of IKN Nusantara

Meanwhile, related to institutions, including the organizational structure of the IKN authority, which includes a steering board, the regulations are currently being prepared.

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