Menparekraf: ADWI 2022 is in Line with G20 Spirit to Revive Together and Recover Stronger

Jakarta, 18 February 2022 – Minister of Tourism and Creative Economy (Menparekraf), Sandiaga Salahuddin Uno, launches the MOTCE’s flagship programs in 2022, which are expected to push opportunities for economic revival by opening up opportunities.

The three programs are the Indonesian Tourism Villages Award (ADWI) 2022, Creative Regencies/Cities (KaTa) 2022, and the Indonesian Creative Appreciation (AKI) 2022.

According to him, this is in line with the spirit carried the G20 Indonesia Presidency carrying the theme “Recover Together, Recover Stronger.”

During the launching of the program which was carried out in a hybrid format, Friday (18/2/2022), Menparekraf Sandiaga Uno stated, Indonesia is granted with enormous resources that must be optimized. Ranging from natural richness, panorama beauty, and the richness of cultural products such as dances, music instruments, culinary, craft, traditional games, traditional houses, and others which vary from Sabang to Merauke.

The MOTCE, Sandiaga said, is present with well-targeted, useful, and timely policies/programs in accordance with the needs of the community. These three main programs are expected to really make Indonesia a world-class tourism destination.

“I believe that opportunities can come in any situation, including in adversity (pandemic situation). In times of mental difficulty, we are tested whether we have the spirit or surrender to the situation or l, vice versa, revive and prove that giving up will never be an option,” according to Menparekraf Sandiaga Uno.

Moreover, this year is a special year as Indonesia is trusted to hold the G20 Presidency or the host of a multilateral cooperation forum consisting of 19 major countries and the European Union with the theme “Recover Together, Recover Stronger”.

“This is in line with the desire of all of us to revive together and recover to be stronger,” he added.

The G20 Presidency, Sandiaga continued, will make all eyes to Indonesia. Opening the window of the world community and seeing Indonesia.

“This is our momentum and opportunity to prove that Indonesian tourism is world class, globally competitive, and sustainable,” Sandiaga continued.

There will also be various side events in a number of regions in Indonesia at the G20 event. The delegates are expected to enjoy the beauty of Indonesia, including visiting Indonesian tourism villages and enjoying creative economy products in various creative regencies/cities.***

[Media Announcement] Virtual SEMINAR on Post-Pandemic Infrastructure And Global Public Goods In The G20

Join us for the Virtual Seminar on Post-Pandemic Infrastructure And Global Public Goods In The G20, today, 18 February 2022 at 3.00pm – 5.00pm (GMT+7).

The seminar will discuss the conditions to leverage a ‘new narrative’ on infrastructure investment and financing within the G20 through sustainable and resilient physical, social and digital infrastructure and the reinforcement of pandemic preparedness.

Registration link:

G20 Health and Finance Leaders Emphasize the Importance of Strengthening the Global Health Architecture

Jakarta, February 17, 2022 – A High-Level Seminar which is part of the first series of Finance Ministers and Central Bank Governors (FMCBG) meetings was convened on Thursday (Feb. 17) in a hybrid format. Carrying the theme “Strengthening the Global Health Architecture”, this seminar was officially opened by the Minister of Finance of Indonesia, Sri Mulyani Indrawati.

In order to strengthen the global health architecture, the theme “Recover Together, Recover Stronger” carried by Indonesia’s G20 Presidency emphasized the importance of global cooperation in overcoming current conditions and preparing for potential future pandemic. The global cooperation is significant given the fact that every nation has considerably varied capacities in addressing health threats.

In her opening speech, Minister of Finance Sri Mulyani Indrawati said, “The G20 must be at the forefront of the process of strengthening  global health architecture. It takes a strong commitment and more substantial investment than ever to tackle the current pandemic and mitigate its effects with the mobilization of health resources.”

One of the issues currently encountered in the global health architecture is the gap in Prevention, Preparedness, and Response (PPR) financing. In this case, the G20 Joint Finance and Health Task Force (JFHTF) is expected to discuss modalities in building G20-driven financing facilities, which is designed in an inclusive manner while emphasizing the important role of the Organization World Health Organization (WHO).

“The COVID-19 pandemic crisis has shown the importance of international funding flows in realizing the PPR. However, it requires an a solid assessment of financing gap by involving various parties.” concluded the Minister of Finance.

In the first session, Minister of Health Budi Gunadi Sadikin highlighted Indonesia’s three priorities to achieve a stronger global health architecture, namely: (i) increasing global health resilience; (ii) aligning global health protocol standards; and (iii) redistribution of global manufacturing centers and research centers to reduce future health vulnerabilities. In line with this, World Health Organization Director-General Dr. Tedros Adhanom Ghebreyesus stated that funding schemes for health architecture must be carried out by a special agency and must be legally binding in manner.

In the second session entitled “Financing Mobilization for Global Public Goods”, the United States Secretary of the Treasury Janet Yellen conveyed the importance of promoting private sector’s role in the collaboration of global health sector financing. Speakers of session II agreed that the current Covid-19 pandemic situation and anticipation for potential future pandemic require the global community to unite and act together while ensuring that no country is left behind.

Furthermore, in his closing remark, the Governor of Bank Indonesia Perry Warjiyo said that strengthening global health system with a sustainable financing mechanism is a crucial part of the exit strategy towards Recover Together and Recover Stronger. With that, Indonesia’s G20 presidency is committed to make this agenda deliver concrete results in 2022.

This High Level Seminar consisted of two discussion sessions. The first session which carried the theme “Strengthening the Global Health Architechture” was attended by speakers including Italian Minister of Health Roberto Sparanza, Indonesian Minister of Health Budi Gunadi Sadikin, Norwegian Minister of Health Anne Beathe Tvinnereim, and WHO Director General Dr. Tedros Adhanom Ghebreyesus. Meanwhile, the second session was attended by speakers including the United States Minister of Finance Janet Yellen, India’s Minister of Finance Nirmala Sitharaman, World Bank President David Malpass, and Singapore’s Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam.***

Indonesian FM Calls Upon Research Communities for Concrete Contribution to G20

Wednesday, 9 February 2022 – Indonesia’s G20 Presidency requires input and ideas from think tanks and research institutions, for the G20 to bring concrete benefits to the world, especially developing countries. “As an open and independent forum, T20 is able to offer bold and innovative solutions to global challenges,” said the Minister of Foreign Affairs, Retno L.P. Marsudi, in her speech at the Think-20 (T20) Inception Meeting on 9 February 2022.

T20 is a forum for collaboration between think tanks and research institutions from all G20 member countries. Think tanks and the research community play an important role for global recovery by initiating concrete ideas and targeted policy recommendations for G20 leaders.
FM Retno particularly invited T20 to contribute to three priority sectors under Indonesia’s G20 Presidency, namely global health architecture, digital transformation, and energy transition.

In the health sector, the gap in global vaccination availability must be addressed. “G20 must also look beyond this pandemic and help prepare the world for any future health emergencies,” said FM Retno. There are several ways that T20 can pursue, from increasing local health capacity; to innovative solutions for the supply chain of drug distribution.

In the digital transformation sector, policy recommendations, that encourage equal digital access and open investment opportunities in developing countries, are needed. Meanwhile, the energy transition requires innovation from researchers to increase access to clean technology, renewable energy, and innovative financing. “Energy transition is an essential step in our path towards a greener and more sustainable economy,” said FM Retno.

T20 Inception Meeting is the first meeting of T20 activities under Indonesia’s G20 Presidency. Joining this meeting was also Indonesian Health Minister, Mari Pangestu of World Bank, Professor Jeffrey Sachs of Columbia University, and Professor Bambang Brodjonegoro as Co-Chair of T20. T20 summit as the final meeting will be held in September in Yogyakarta.***

G20, Ministry of Education Fight for Four Education Priority Agendas

Jakarta, 9 February, 2022 – The theme for Indonesia’s G20 Presidency this year is “Recover Together, Recover Stronger”. The theme is inspired by one of Indonesia’s fundamental values which has evolved into a culture namely gotong royong (mutual cooperation). Minister of Education, Culture, Research, and Technology Nadiem Anwar Makarim said, the COVID-19 pandemic has made us increasingly aware of the value of mutual cooperation, which can help us recover and rise together. 

The Minister of Education and Culture also invited all parties to work together to recover and rise together following the COVID-19 pandemic, as well as to contribute to the success of Indonesia’s G20 Presidency. “With the spirit to recover and rise together, I would like to invite everyone to strengthen mutual cooperation so that we can succeed in Indonesia’s G20 presidency, and realize Freedom to Learn, Freedom to Practice the Culture,” Minister Nadiem said at the “G20 Kick-Off on Education and Culture” in Jakarta on February 9.

On the same occasion, Iwan Syahril, the Director-General of Teachers and Education Personnel of the Ministry of Education and Culture, spoke on behalf of the G20 Education Working Group, saying that the G20 countries must work together to help the world overcome inequality in access to quality education in post-COVID-19 recovery.

Indonesia will address four priority education agendas in the G20 Education Working Group (EdWG), according to Iwan. Solidarity and Partnership is one of these agendas that is strongly tied to Indonesian gotong royong culture.

“This agenda is connected to the Indonesian nation’s cultural wisdom, namely mutual cooperation, as stated by the Minister of Education and Technology. We want to use our country’s cultural wisdom to help us reimagine the future. We believe that the only way to move forward and tackle global education problems is by supporting and collaborating with one another,” Iwan stated.

The other three priority agendas are Universal Quality Education, Digital Technologies in Education, and the Future of Work Post COVID-19.

Iwan explained that “the Universal Quality Education agenda departs from the challenge of encouraging equal access and quality of education at all levels, especially for vulnerable groups in post-COVID-19 recovery,” adding that this agenda is also a form of affirmation of Indonesia’s commitment to realizing quality education for all, in line with the 4th Sustainable Development Goal.

“The Ministry of Education, Culture, Research, and Technology wants to sharpen discussions and solutions on how digital technology may be the answer to problems of access, quality, and social justice in education,” Iwan said of the next priority agenda, Digital Technologies in Education.

Regarding the Future of Work Post COVID-19 agenda, the Ministry of Education and Culture believes that the needs of the world of work following the COVID-19 pandemic are changing. “The world must rethink how education might respond to the world’s challenges in the future,” Iwan stated.

Indonesia’s G20 Presidency is significant because Indonesia is holding the leadership relay in a cooperation forum of 19 countries and the European Union, therefore the Ministry of Education and Culture invites all parties to collaborate and strengthen each other to recover together after the COVID-19 pandemic.

“During this presidency, Indonesia will demonstrate how the gotong royong culture may inspire the globe to recover from the pandemic together, move forward, and rebuild a better world.” Let us work together, especially in tackling connected priority issues,” Iwan Syahril stated.***

Education Minister: Make ‘Recover Together, Recover Stronger’ a Meaningful Real Action

Jakarta, 9 February, 2022 – Minister of Education, Culture, Research, and Technology Nadiem Anwar Makarim announced a priority agenda for education and culture . This priority agenda will be promoted by the Indonesian government through the Ministry’s leadership at the G20 event.

In an event called ‘Kick-off G20 on Education and Culture’ which was streamed on the Ministry’s official YouTube channel, Nadiem stated, “Indonesia’s G20 Presidency which was received by President Joko Widodo in December 2021 is very relevant, because all of us in Indonesia, and all countries in the world are currently trying to recover from the Covid-19 pandemic.”

Nadiem continued that this leadership momentum was considered appropriate because this is the time for Indonesia to show the extraordinary character of the nation. “One of the basic values ​​of our nation, namely mutual cooperation, is becoming increasingly significant to help us and the world to recover and rise,” explained Nadiem.

Regarding the priority agenda in the field of education, the Minister said that a number of breakthroughs in theMerdeka Belajar (freedom to learn) program will be introduced to the world as good practices and examples to be adopted by other countries in the world. The Minister expected that Indonesia can inspire developed and developing countries while creating beneficial partnerships.

“There are four priority agendas in the education sector that we will strive for as the leader in the G20 Education Working Group, and later in the education ministers meeting during the summit. First, Quality Universal Education. Second, Digital Technology for Education. Third, Solidarity and Partnership. Fourth, the Future of the World of Work Post Covid-19,” Nadim explained.

In the field of culture, Nadiem said, “Indonesia invites the world to promote culture-based sustainable living practices and the creation of a global consensus to achieve this. An Arts and Culture Conference for Restoration and a summit of culture ministers meeting will be held at the Borobudur Temple area, which we are all proud of.”

Closing his remarks, Minister of Education and Technology invited world citizens and leaders to produce real and meaningful actions. “Let’s make the G20 theme ‘Recover Together, Recover Stronger’ a real and meaningful action. With the spirit to recover and rise together, I would like to invite everyone to strengthen mutual cooperation so that we can succeed in Indonesia’s G20 presidency, and realize Freedom to Learn, Freedom to Practice the Culture.”

The Minister inaugurated the G20 education and culture field by wielding the gunungan puppet. In Indonesia’s wayang or shadow puppet tradition, the leaf-shaped shadow puppet gunungan screen describes the life in the universe. The wielding of gunungan symbolises the transition of performance, in which the people struggle and make efforts to change the course of their lives. Gunungan in the G20 logo represents Indonesian people’s enthusiasm and optimism, especially to rise from the pandemic and soon enter a new chapter of life.***

Ministry of Trade, Ministry of Investment, and Ministry of Industry of Indonesia Seek for Global Economic Recovery by Hosting G20 Trade, Investment, and Industry Working Group

Jakarta, 8 February, 2022 – The Ministry of Trade, Ministry of Investment/Indonesian Investment Coordinating Board (BKPM), and Ministry of Industry of the Republic of Indonesia will synergize by hosting G20’s Trade, Investment, and Industry Working Group (TIIWG), which will commence this September in Labuan Bajo, Nusa Tenggara Timur. This synergy will reflect Indonesia’s commitment to its Presidency of G20 in 2022, dedicated to enhancing global economic recovery through trade, investment, and industry.

The statement was uttered by Indonesia’s Minister of Trade, Muhammad Lutfi, Minister of Investment, Bahlil Lahadalia, and Minister of Industry, Agus Gumiwang Kartasasmita, at the joint press conference of “G20 TIIWG Inauguration” in Jakarta, Tuesday (8/2).

This year’s G20 TIIWG Meeting will be chaired by the Ministry of Trade, aiming at championing the theme of “Aligning Trade, Investment, and Industry Agenda with Sustainable Development Goals (SDGs).”

“The Ministry of Trade is fully committed to supporting Indonesia’s G20 Presidency to realize G20 as the catalyst for global economic recovery by placing collaboration and inclusivity at the forefront and providing tangible outcomes for the national and global society. Thus, the Ministry of Trade, Ministry of Investment and Ministry of Industry pledge to host and lead the G20 TIIWG Meeting to discuss efforts and policies of respective member nations in designing their trade policies in their effort to recover and be relevant under the context of being contemporary, inclusive, people-centered, environmentally friendly, and sustainable,” explained Trade Minister Lutfi, who is also the Chief Executive of the G20 Side Events 2022.

This meeting will raise six priority issues, namely the WTO Reform; the Role of Multilateral Trading System to Strengthen the Achievement of Sustainable Development Goals; Trade, Investment, and Industry Response to the Pandemic and Global Health Architecture; Digital Trade and Sustainable Global Value Chains; Spurring Sustainable Investment for Global Economic Recovery; and Inclusive and Sustainable Industrialization via Industry 4.0. The discussion of these issues is expected to provide concrete results through Ministerial level agreements that are in line with the three main deliverables of the G20 Presidency of Indonesia, namely Global Health Architecture, Digital Economy Transformation, and Energy Transition.

Through these six issues, Indonesia will ensure the agenda and policies of trade, investment, and industry for the achievement of the SDGs. The SDGs are an integral foundation of the change agenda process for the policies of the three aforementioned sectors in achieving sustainable development that is prosperous, equitable, and just, in both developed and developing countries. The Ministry of Trade will ensure that this common interest can be accepted by all the G20 delegates and agreed upon by all G20 Ministers by consensus.

Through the G20 TIIWG, Minister of Trade Lutfi emphasized the narrative as a shared responsibility for economic recovery. The Ministry of Trade will discuss this interest with all member countries, stakeholders, and international organizations that this issue is an important and urgent issue.

“Labuan Bajo will send a message to the whole world that the G20 Trade Ministers will continue to strive so that trade, investment and industry can again become a driving force for sustainable economic growth and significantly improve the welfare of the global community. ‘We need to come back to trade. We need to come back to the SDGs’,” concluded the Minister of Trade Lutfi.

Meanwhile, the Minister of Investment/Head of BKPM Bahlil Lahadalia said that currently the focus of the Indonesian government is to take advantage of the momentum of the G20 Presidency, namely encouraging sustainable investment and inclusive investment.

“Indonesia must be at the forefront of how to play its role in promoting green energy. We have extraordinary natural resources,” said Investment Minister/Head of BKPM Bahlil.

Furthermore, the Minister of Investment/Head of BKPM Bahlil re-emphasized that every incoming investment be beneficial for entrepreneurs in the region, with the involvement of Micro, Small and Medium Enterprises (MSMEs). Through this G20 momentum, the Ministry of Investment / BKPM will continue to encourage the realization of positive collaboration between investors and national entrepreneurs in the regions, including MSMEs.

Meanwhile, the Minister of Industry, Agus Gumiwang Kartasasmita, said that the G20 TIIWG will be historic because for the first time; industrial issues will be discussed specifically in the G20. This is an initiative of the Government of Indonesia to add industry nomenclature to the TIIWG.

Minister of Industry Agus added, to take advantage of this momentum, the Government of Indonesia will encourage collaboration of G20 countries in making breakthroughs and taking concrete actions in the trade, investment and industrial sectors to contribute more to global economic recovery.

“The TIIWG G20 meeting will open with the beauty of culture and the beauty of Indonesia’s traditional heritage in the city of Solo, which is still well-maintained and able to adapt to the development of time and technology. Solo will showcase Indonesia’s achievements in the development of the industrial sector and invite G20 countries to collaborate in utilizing technology to achieve inclusive and sustainable industries, to recover together and recover stronger,” said the Minister of Industry.

G20 Presidency of Indonesia 2022

The G20 is a multilateral cooperation forum consisting of 19 major countries and the European Union which has a middle to high income class, as well as developing countries to developed countries. G20 members consist of countries from various regions of the world, namely the United States, Canada, Mexico, Argentina, Brazil, United Kingdom, Germany, Italy, France, Russia, South Africa, Saudi Arabia, Turkey, China, Japan, South Korea, India, Indonesia, Australia and the European Union.

The G20 presidency in 2022 is the first for Indonesia as a member of the G20 since the international forum was formed in 1999. At that time, Indonesia was in the recovery phase after the 1997-1998 economic crisis and was considered an emerging economy with enormous economic size and potential in the Asian region.

Indonesia’s G20 Presidency officially commenced on December 1, 2021, until the handover of the next presidency at the end of 2022. Previously, the appointment of Indonesia to hold the G20 Presidency was carried out at the 2020 Riyadh Summit. Meanwhile, the handover of the G20 Presidency from Italy to Indonesia was carried out on October 31, 2021 in Rome, Italy.

The global economic recovery from the crisis caused by the Covid-19 pandemic is still ongoing. However, inequality and uncertainty also persist. The new variant of Covid-19 still threatens the economic and social life of the community.

With the main theme of the G20 Presidency “Recover Together, Recover Stronger”, Indonesia invites the whole world to focus on working together to support each other and recover together and grow stronger and more sustainable in responding to current and future crises.***

Side Events of G20 Presidency February 2022 is Ready to be Held, Trade Minister: Showcase Positive Image of Indonesia

Jakarta, 7 February 2022 – In support of Indonesia’s G20 Presidency, various G20 Presidency of Indonesia Side Events will be held in February 2022. Side events have been scheduled to provide a deep comprehension to the G20 members regarding the priority agenda of the G20 under the Presidency of Indonesia. Since its commencement on January 2022, these Side Events are expected to enhance the positive image of development and culture of Indonesia.

“These side events are aimed at providing a more comprehensive understanding to the members of the G20 about the priority agenda of the G20 under the Presidency of Indonesia. The G20 Side Events must also be a showcase of Indonesia’s positive image of development and culture,” said Minister of Trade, Muhammad Lutfi, as the chief executive of the G20 Indonesia Presidency 2022 Side Events.

Trade Minister Lutfi hopes that the implementation of the G20 Side Events will make Indonesia’s G20 Presidency more prominent in the efforts to restore the world economy. “We are optimistic that the entire G20 Side Events agenda will have an important impact on the entire series of G20 Meetings held in Indonesia this year,” he concluded.

On February 2022, side events held will include the Kick Off Education Working Group, High Level Seminar on Sustainable Finance: Green Financing and Energy Transition Mechanism, Casual Talks on Digital Payment Innovation of Banking, Showcase on Indonesian Digital Payment, Casual Talks on Digital Payment Innovation of Fintech, Casual Talks on Managing Risk of the Exit Policy Dynamics through More Diversified Currency to Support Global Trade and Investment, Maiden Speech: Klaas Knot as new FSB Chair, International Seminar on Exit Strategy and Scarring Effect, Casual Talks on Scaling Up the Utilization of Sustainable of Financial Instruments, Casual Talks on Bank Digitalization Trend, G20 High Level Discussion on Exit Strategy, QRIS Excursion to Tourism Village, Wonderful Indonesia Rupiah Showcasing, Opening Ceremony of Youth 20, and Side Event I Development Working Group.

Further information regarding the side event agenda of the G20 Presidency of Indonesia 2022 can be viewed at***

MSME Development Requires Database Strengthening Support

Jakarta, 5 February 2022 – MSME database strengthening becomes one of the keys to develop financial products and services easily accessible to MSMEs. It will strengthen MSME sector and increase financial inclusion because financial product and service options are open for MSMES. This topic arises in the 1st Plenary Meeting of Global Partnership for Financial Inclusion (GPFI) held virtually by G20 Presidency of Indonesia on the finance track (Bank Indonesia and Ministry of Finance) on 3-4February 2022. This meeting discusses the Priority Agenda of G20 Presidency of Indonesia 2022, primarily related to the role of digitalization in order to increase financial inclusion and MSME development. Indonesia, in joint presidency with Italy and Russia who act as co-chairs of GPFI, presides over the meeting.

The agenda of 2022 GPFI focuses on promoting digitalization to support revenue increase of
MSMEs and vulnerable groups and to introduce digital innovations and data harmonization.
During the discussion on MSME financing, a proposal is made for analytical framework of
regulatory diagnostic toolkit for Digital Financial Services. The analytical framework aims to
strengthen MSME access to innovations in digital financial products and services and to
determine the effective strategy to strengthen acquisition of data and information in MSMEs. This meeting also discusses the importance of identification of the most efficient approaches and methods to conduct data harmonization. In general, all GPFI members agree that data harmonization is very vital for development of digital financial inclusion and it is also believed
that it may be expanded to not only G20 members, but also other countries.ta harmonization.

The GPFI meeting also discusses digital financial inclusion and consumer protection to support
financial inclusion. To promote digital financial inclusion, implementation of Framework G20
High Level Principles on Digital Financial Inclusion is expected to be expanded, focusing not only on G20 countries, but also other countries. In addition, discussion also arises on the necessary 10-year review of G20 High-Level Principles on Financial Consumer Protection.

GPFI work program under the G20 Presidency of Indonesia 2022 is in line with G20 Financial
Inclusion Action Plan 2020 which includes four key deliverables, namely (i) implementation of
2016 High Level Principles on Digital Financial Inclusion, (i) stocktaking report on financial
products and services for MSMEs in addition to loan products, (ili) regulatory diagnostic toolkit
to strengthen access of MSMEs to innovations in digital financial services, and (iv) harmonization of MSME data.***

Digitalization Increases Economic Productivity

JAKARTA, 2 February 2022 – Digitalization has given rise to various new opportunities that can be utilized to increase financial inclusion for MSMEs. The availability of financial access and services that are easily accessible to MSMEs is one of the significant factors in increasing MSMEs’ productivity and resilience to economic turmoil. This was conveyed by the Deputy Governor of Bank Indonesia (BI), Doni P. Joewono, in the International Seminar on Digital Financial Inclusion which is a side event of the 1st G20 Global Partnership for Financial Inclusion (GPFI), held today (Feb. 2), virtually. This seminar brought speakers who represented the regulator including Indonesia’s Financial Services Authority (OJK), the World Bank, and the Better Than Cash Alliance (BTCA), as well as the industry, namely Indonesia’s technology company GoTo and India’s digital financial inclusion platform Avanti Finance. Discussions in the seminar have brought together views from regulators and the industry on issues and obstacles that arise in the efforts to accelerate digital financial inclusion to encourage economic inclusion.

Digital financial inclusion is one of the priority agendas of Indonesia’s G20 Presidency in 2022. By utilizing digitalization, financial inclusion can be promoted to increase sustainable economic productivity and inclusiveness, especially in the MSME group including MSMEs owned by women and young people.

Furthermore, Doni P. Joewono conveyed that technological advances, digitalization of financial products and services, and online business activities can support MSMEs in maintaining revenues and business amidst the Covid-19 pandemic. Indonesia’s MSMEs have been able to adapt quickly and switch to digital-based businesses. A Bank Indonesia survey in 2021 revealed that 20% of Indonesian MSMEs were able to mitigate the impact of the pandemic by digitizing their businesses and utilizing online marketing media. Data on supply side shows that the adoption of non-cash transactions such as debit cards and electronic money has experienced a rapid increase, as reflected in the December 2021 QRIS transactions value which reached Rp27.7 trillion (or an increase of 237% per year).

The seminar discussed the importance of maintaining a balance between promoting innovation in digital financial services to increase financial inclusion and managing potential risks. The balance between innovation and risk mitigation is in line with two of the ten principles outlined in the G20 High Level Principles on Digital Financial Inclusion which was launched in 2016.

The agenda of Indonesia’s G20 Presidency related to financial inclusion in 2022 will focus on Digital Financial Inclusion and SME Finance, which is based on the G20 Financial Inclusion Action Plan (FIAP) 2020 and supports the theme of Indonesia’s G20 Presidency “Recover Together, Recover Stronger”. The development of MSME becomes one of the main issues with a focus on utilising digitalization to increase productivity, stability, and economic inclusiveness for MSMEs, especially those owned by women and young people.

This international seminar was attended by the international and domestic communities who represented Ministries/Institutions, regulators, academics, international organizations, associations, and the general public.***