Jakarta and New York Partner on Municipal Bonds for City Growth

RRI.CO.ID, Jakarta - City-to-city diplomacy, or paradiplomacy, between Jakarta and New York has entered a new, more concrete phase. A bilateral meeting between Jakarta Governor, Pramono Anung, and New York Mayor, Zohran Kwame Mamdani, at Civic Hall in New York on Sunday, September 20, 2026, resulted in a commitment to send a team of United Stated (US) financial experts to assist with preparations for the issuance of Jakarta municipal bonds.

“I am very enthusiastic about and supportive of Jakarta’s plan to issue municipal bonds. New York has also used bonds to finance infrastructure development, including waste treatment facilities and various public facilities,” said Mamdani in an official statement on Monday, September 21, 2026.

He said New York was ready to send a finance team to share its experience with the Jakarta Provincial Administration. “We are ready to send a finance team to share our experience with the Jakarta Provincial Administration regarding the preparations and process for issuing municipal bonds,” said Mamdani, as quoted by Antara.

During the meeting, Pramono Anung, also shared with Mamdani the city’s strategies for addressing traffic congestion and developing public transportation. One of these strategies is the development of the Transjabodetabek (Trans Jakarta, Bogor, Depok, Tangerang, Bekasi) regional bus network to strengthen Jakarta’s connectivity with its surrounding buffer areas and cut private vehicle use.

Pramono further explained that the Jakarta Provincial Administration provides free public transportation services to 15 groups of residents. The beneficiaries include senior citizens, people with disabilities, students receiving the Jakarta Smart Card (KJP), and university students receiving the Jakarta Excellent Student Card (KJMU).

Pramono also outlined Jakarta’s efforts to address flooding through the construction of flood-control infrastructure and measures to prevent land subsidence. These efforts include reducing groundwater use and developing a giant sea wall.

The bilateral meeting provided Jakarta and New York with an opportunity to exchange experiences in addressing the challenges faced by major cities. It also opened the way for more concrete cooperation in urban development. ***

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