A total of around USD 42 billion worth of investment opportunities have been offered in infrastructure projects and tourism to delegates attending last week's IMF-World Bank Meetings in Nusa Dua, according to the Jakarta Globe. And one of Indonesia's most under developed regions, NTT looks set to make the most of it.

A collection of some 550 islands east of Bali in the Lesser Sundas, NTT's most famous islands include Komodo, Flores, Sumba and West Timor. The destination earmarked for investment under Jokowi's '10 New Bali's' initiative is Labuan Bajo in western Flores, and the gateway to the Komodo National Park.

But, the region has received recognition as being a place of great natural beauty. In 2016, the Anugerah Pesona Indonesia awards (Indonesia's most popular annual tourism awards fully supported by the Ministry of Tourism) awarded gold medals for the most popular surf break at Nemberala Beach in Rote, the cleanest beach at Nihiwatu in Sumba, the most popular historic sitre at Ende and the most popular dive spot in Alor.

The Indonesian Embassy in Singapore has been actively involved in helping to promote Labuan Bajo and Komodo National Park over recent months and Ambassador Ngurah Swajaya, made the best of the recent IMF-World Bank Annual Meetings to show Singaporean investors around.

Deputy Head of Bank Indonesia's (BI) Representative Office in East Nusa Tenggara, Muhammad Syarial, explained that Ambassador Swajaya`s visit to Labuan Bajo was a follow-up to the Leaders Retreat between President Jokowi and Singaporean Prime Minister Lee Hsien Loong in Nusa Dua, Bali, last Thursday, according to Antara News.

The Singaporean investors "have seen first-hand the tourism and investment potential in Labuan Bajo and visited Padar Island, Komodo Island, and Pink Beach," said Syarial, with one of the primary interests being the development of an international airport in Labuan Bajo. He went on to say in Q1 of 2018, Singapore`s investment in the region had increased by almost 40 percent from 2017.

Transportation Minister, Budi Karya Sumadi told the Jakarta Post "the airport could also become a hub, sending off tourists to other tourist destinations in eastern Indonesia. We're discussing all possibilities."

Justin Dallas of The Dallas Group, specializing in ethical investments in Sumba and other parts of NTT told WILLIAMS MEDIA "once regional governments start talking with private enterprises to combine tourism growth with local needs, local communities will be the ones to benefit. With the buzz around Komodo Bonds and the funds being made available, this can happen and it's critically important because sustainable development, education and environmental care are what many of Indonesia's outlying islands need so they create long-term gains for generations to come."

NTT has received recognition as being a place of great natural beauty.

On a related note, the International Finance Corporation (IFC), which is a member institution of the World Bank, has issued something called Komodo Green Bonds or Komodo Bonds worth IDR 2 trillion or around USD 134 billion. These rupiah-denominated bonds are issued in order to invest in climate and environmentally-focused projects in Indonesia and they are rated AAA (stable) from S&P and Aaa (stable) from Moody’s according to a recent report in Bisnis and they are seen as proof of the growing desire for socially responsible investment in Indonesia.

The five-year bonds that will be registered with the London Stock Exchange and Singapore Stock Exchange will support the local currency market in Indonesia. The proceeds from the sale of these bonds will also finance infrastructure projects that address climate change, in accordance with the principles of Green Bonds.

Sources: Antara News, The Jakarta Post, Jakarta Globe, The Dallas Group, Liputan6, Bisnis

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