Indonesia Considers $33 Billion Plan to Move Government From Jakarta
- Move to take up to 10 years as capital Jakarta nears gridlock
- Central bank and financial authorities may remain in Jakarta
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Indonesia plans to relocate its administrative capital from Jakarta, with the move set to take up to a decade and cost as much as $33 billion.
President Joko Widodo on Monday ordered ministers to formulate a financing plan for the move, with private investment set to play a key role. The plan envisages relocating government and its executive branch, ministries and the parliament while retaining the central bank as well as trade and investment functions in Jakarta.