Indonesia, UK sign initial agreement for partnership on MRT project

Indonesia, UK sign initial agreement for partnership on MRT project

FILE PHOTO: Mass Rapid Transit (MRT) train arrives at a station during its full trial run in Jakarta, Indonesia, March 12, 2019. REUTERS/Willy Kurniawan/File Photo

The United Kingdom and Indonesia on Monday signed a letter of intent to cooperate in railway development, specifically Jakarta’s mass rapid transport (MRT) project, the British embassy said in a statement.

The UK Export Finance (UKEF), its export credit agency, has expressed interest in providing up to $1.25 billion for the project, the statement said, adding that the UKEF has up to £4 billion ($4.72 billion) of financing available for Indonesia. It also said the agency is actively looking to participate in similar projects elsewhere in the country.

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