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Economy

Indonesia weighs lease of Jakarta properties to fund capital move

Potential schemes include a barter program and a build-operate-transfer plan

The government owns 17,834 facilities and sites in the greater Jakarta area, worth a combined $78 billion. (Photo by Kosaku Mimura)

JAKARTA -- Indonesia is considering several plans to fund the construction of the country's new capital, including the leasing of government-owned land and properties in Jakarta to private companies, according to a Ministry of Finance official familiar with the matter.

The government hopes such moves will help it raise a large part of the projected 466 trillion rupiah ($33 billion) needed to develop the capital site in East Kalimantan on the island of Borneo.

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