Private banks offered to fund Jakarta LRT project

The Government of Indonesia offers private banks (local and foreign) to involve in funding the light rail transit (LRT) project in Jakarta, Bogor, Depok, Bekasi (Jabodebek). But the Government demands 7-8% interest for the said loan, lower than average market. This LRT project costs Rp23 trillion. State banks assigned to fund this project are Bank Mandiri (BMRI), Bank Negara Indonesia (BBNI), Bank Rakyat Indonesia (BBRI), and Bank Tabungan Negara (BBTN).