Jakarta Governor Pramono Anung has urged Indonesia's Finance Ministry to expedite the review of a proposed bond issuance worth Rp3.5 trillion.
The city government is seeking approval for a seven-year minimum tenor, aiming to secure long-term funding for infrastructure and development projects in the capital.
The push for accelerated regulatory clearance comes as Jakarta seeks to diversify its funding sources and manage debt maturity profiles more effectively.
By targeting a seven-year horizon, the city aims to lock in financing at current market rates, reducing refinancing risk in the near term.
The Finance Ministry's review process is a critical gatekeeper for such municipal debt instruments, determining the final terms and market readiness of the offering.
This development aligns with Indonesia's broader efforts to overhaul its capital market framework.