Indonesia Seeks More Private Capital for Development Projects
..Indonesia is calling for a transition policy on funding eligibility that takes into account country ownership and the long-term sustainability of development financing,Jakarta (ANTARA) - Indonesia has called for greater private capital mobilization, effective development programs, and funding arrangements tailored to national capacities to strengthen multilateral development financing and cooperation.
Speaking at the 57th Joint Governors Meeting in Bangkok, Thailand, Finance Minister Suahasil Nazara emphasized the World Bank Group’s key role in promoting productive investment and creating quality jobs.
“For Indonesia, the priority is crystal clear: funding that encourages productive investment, implementation of programs that create quality jobs, and partnerships that evolve in line with national needs,” Nazara said in a statement from the ministry on Wednesday.
The minister explained that Indonesia would seek to mobilize private capital by providing affordable financing to support productive investment.
Indonesia would also push for the swift approval and implementation of development programs in cooperation with the World Bank Group.
In addition, Indonesia is calling for a transition policy on funding eligibility that takes into account country ownership and the long-term sustainability of development financing, he added.
Beyond funding issues, Nazara highlighted the need for a comprehensive response to climate change and natural disasters as part of the development cooperation agenda.
He said climate action and crisis preparedness should be designed around practical, country-driven approaches.
Indonesia therefore supports the implementation of the Paris Agreement and other climate action measures that are consistent with the principles of energy sufficiency, affordability, economic competitiveness, and fiscal sustainability, Nazara said.
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Translator: Imamatul Silfia, Nabil Ihsan