Crowdfunding a capital: Indonesia’s unusual pitch raises eyebrows
Al JazeeraThe unorthodox proposal comes after Japan’s SoftBank opts not to invest in a project estimated to cost $32bn. “ADB will share international lessons learned to help the Nusantara National Capital Authority to design and fund construction of the new capital,” ADB spokesman Ahmed M Saeed told Al Jazeera. Muhammad Bijak Ilhamdani, a regional assembly member in East Kalimantan, said while he finds the term “crowdfunding” disturbing, it is important to understand how the scheme would work before casting judgement. “What is this going to look like?” Jubain, the head of an advocacy group for the Paser Balik Indigenous people, described the idea of crowdfunding the capital as ridiculous. “Imagine if we help to fund the capital when actually we are the ones who should be getting compensation from the state for the use of our land.” Jubain said the government has not been paying attention to the needs of the local community and the crowdfunding proposal has only made matters worse.
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