IKN Development Stimulates Economic Growth

Asian Development Bank (ADB) Director for Indonesia, Jiro Tominaga, told Antara News on Monday (27/5/24,) that the development of Indonesia’s new capital city, IKN, stimulates economic growth and expedites development in eastern Indonesia.

Tominaga said that IKN presented a unique opportunity to utilize international best practices in urban planning, development, and financing, as well as contribute to economic development.

He also said, however, that IKN will not be built in one day since several steps had to be taken to make the city liveable and draw people to move there.

Each stage of development necessitates a different approach and therefore offers unique opportunities for development partners, including ADB, to contribute, says Antara News.

At the ADB annual meeting in Incheon, South Korea, held in 2023, ADB inked a memorandum of understanding with the Nusantara Capital Authority (OIKN), which among other things, emphasized joint efforts to develop IKN as a smart and sustainable forest city.

According to Antara News, ADB has mobilized experts and conducted research to support the planning of the new city, providing advice on how to mitigate potential negative impacts of urban development, and sharing ideas on options for mobilizing the financing needed to build the city.

Head of OIKN, Bambang Susantono said in Jakarta earlier that community welfare must be the main priority in the development of IKN in East Kalimantan, explaining that building a liveable city in IKN starts by placing humans at the center as they aim to provide a high quality of life, supported by strong governance, fair access to services, and high-quality infrastructure, reports Antara News.

The main characteristics of a liveable city include holistic urban planning, sustainable development, and the inclusion of the informal sector.

The development of IKN aims to set new standards for environmental quality and become a city that is comfortable to live in for its residents and visitors.

To achieve this, IKN will realize the two characteristics of a sustainable forest city and a liveable and lovable city, an important component being the people’s relationship with their culture.

 

Source: Antara News

Stock photo by Scott Webb on Pexels 

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