Indonesia plans to move its capital as Jakarta slowly sinks to the sea, President Joko Widodo announced last week.
Apparently, talks of moving the capital have been ongoing for the better part of the decade. According to current data, two-fifths of Jakarta’s area are already below sea level and continues to sink. And to add salt to the wound, reports say that the area sinks as much as 10 inches every year. This is due to continuous dredging and the rise of water levels across the seas. Notably, climate change and global warming figure a great deal in this bout.
Currently, close to 10 million people reside in the city.
To this end, Indonesia President Joko Widodo has called on his ministers to identify potential land that would serve as the new capital. In a period of months, assessors surveyed areas across the archipelago. Fortunately, the team was able to identify an area roughly 800 kilometers away from Jakarta. Eventually, it is expected that a region in East Borneo would be housing the new capital of Indonesia by 2024. However, President Widodo assures the nation that Jakarta will remain as Indonesia’s central business hub.
According to reports estimates, the total cost for this venture could go as high as $ 33 Billion. Furthermore, the Indonesia government has already started fundraising for the endeavor. To this end, the Indonesia government would seek to rely on government partnerships with the private sector as they can only commit to funding 1/5 of the project.
In the meantime, it’s business as usual for the capital of the largest archipelago in the world.