Indonesia will allocate 35 trillion rupiah ($2.29 billion) for construction of its new capital city in 2024, its finance minister Sri Mulyani Indrawati said on Wednesday.

Indonesia is building a new capital on Borneo island, named Nusantara.

($1 = 15,280.0000 rupiah) (Reporting by Bernadette Christina and Stefanno Sulaiman, Ananda Teresia; Editing by Martin Petty)