INDONESIA is abandoning its capital city of Jakarta and instead building a new one on the island of Borneo, a province of East Kalimantan. The decision comes as the current capital, which is home to more than 10million people, is sinking into the ground as nearly half of the city already sits below sea level. President Joko Widodo said three years of intense study saw officials identify the future capital which sits on the eastern side of the island as the ideal location. The island is the third largest in the world and is at the centre of the archipelago nation, with the move expected to take up to 10 years and cost £26.7billion.£26BILLION DECISION The site of the new capital, 1,250miles northeast of Jakarta, is one of the regions least prone to the natural disasters that regularly hit the archipelago of 17,000 islands. Most of the move will be funded by cooperation between the government and businesses and by direct investment by state-run firms.The burden Jakarta is holding right now is too heavy as the centre of governance, business, finance, trade and servicesJoko WidodoPresident Around 19 per cent will come from the government’s budget. The new city will sit… Read full this story
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