ANNOUNCEMENT 30 Dec 2020
In December 2020, Indonesia provided a capital injection of IDR 2 trillion (USD 143.7 million) to PT Bio Farma to increase its production capacity.
NUMBER OF INTERVENTIONS
[CNBC Indonesia, "Jokowi Resmi Suntik Modal Rp 2 T untuk Bio Farma", published on 31 December 2020, retrieved on 7 January 2021, in Bahasa Indonesia]: https://www.cnbcindonesia.com/market/20201231074918-17-212719/jokowi-resmi-suntik-modal-rp-2-t-untuk-bio-farma
[Republika, "Pemerintah Suntik Bio Farma Rp 2 Triliun", published on 4 January 2021, retrieved on 7 January 2021, in Bahasa Indonesia]: https://republika.co.id/berita/qme67w370/pemerintah-suntik-bio-farma-rp-2-triliun
On 30 December 2020, according to the attached news, Indonesia provided a capital injection of IDR 2 trillion (USD 143.7 million) in the form of equity capital participation to PT Bio Farma through the issuance of Government Regulation No.80/2020. The capital injection would be used to manufacture drugs and vaccines produced by PT Bio Farma.
PT Biofarma is an Indonesian state-owned enterprise based in Bandung and the only local vaccine manufacturer in Indonesia.
*IDR to USD conversion as of 30 December 2020 - IDR 13,926/USD