Indonesia: Asian Development Bank Member Fact Sheet 2018 Updated

Abstract

Indonesia was a founding member of the Asian Development Bank (ADB) in 1966, and today it is among the bank’s largest shareholders and sovereign borrowers. The country has made remarkable progress in its social and economic development in the past few decades. Since the 1998 Asian financial crisis, its economy has grown tenfold and per capita income eightfold. Indonesia reached middle-income status in 2004 and became a G20 member in 2008. Poverty levels fell to single-digit levels for the first time in 2018. Despite this progress, fostering inclusive and sustainable economic growth remains a challenge in Indonesia. Poverty is still significant, inequality and regional income disparities are relatively high, and quality jobs are scarce. To address these challenges, the Government of Indonesia is pursuing an ambitious development agenda that prioritizes development of infrastructure and human resources, social protection, and structural reform.