Indonesia is looking for investments in roads, sea ports, airports and power plants.

According to Indonesia’s Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan, private equity fund Global Infrastructure Partners (GIP) could invest up to $ 3 billion in the country. He said GIP was interested in investing in three projects, and that the Indonesian President had given his green signal, according to TheJakartaPost.

Further, Luhut added that President Joko “Jokowi” Widodo was favorably disposed to the investment. That’s because former World Bank President Jim Yong-kim, currently heading GIP, was a good friend of his.

Reportedly, Kim met with Jokowi on Friday. Jokowi informed the press that GIP was aware of Indonesia’s priority on the construction of various infrastructure assets.

GIP: joint venture PE investments in Indonesia

“[The assistance] is not in the form of loans but investments to jointly invest [with the government] in the sectors,” Jokowi added. He also clarified that GIP was looking to invest in electricity transmission, airports and hydropower.

After Kim’s assuming leadership at GIP, Indonesia would be among the first countries to receive investments from the fund.

“I am extremely optimistic about this country, I’m extremely optimistic about this government and we are in early stages of looking at the investment,” Kim said.

GIP: Jim Yong-kim

GIP hired Jim Yong-kim in January this year after he suddenly resigned as president of the World Bank. Kim departed from the World Bank still having more than three years of his second term ahead of him.

GIP has over $40 billion in assets under management in the infrastructure sector. These included assets such as energy, transport, water, and waste management. London’s Gatwick Airport is one of the assets in its portfolio.

According to the Wall Street Journal, GIP received interest from investors totaling more than $ 20 billion for its latest fourth infrastructure fund.

[Related Story: An ETF To Take Advantage Of “One Of The Largest Infrastructure Build-Outs In History” ]