[Announcement]: International Seminar on Digital Financial Inclusion

Fellow delegates and distinguished guests,

Financial inclusion plays an important role in supporting economic recovery due to the significant impacts of the COVID-19 pandemic. Digital financial inclusion is one of the priority agendas of the G20 Indonesia Presidency in 2022.

To support the success of this agenda, Bank Indonesia and the Ministry of Finance of the Republic of Indonesia will hold an international seminar that will examine the concrete actions of policymakers, international institutions, and industries from various countries in expanding the use of digital financial services

Want to know more about policies and best practices in utilizing digital financial services to support an inclusive economy and finance program? Learn more about the International Seminar on Digital Financial Inclusion at:

🗓️ Wednesday, February 2nd, 2022
🕣 15.30-18.15 WIB
💻 Registration link: bit.ly/seminarG20GPFI

✒️ Keynote Speech
Doni P. Joewono, Deputy Governor of Bank Indonesia

✒️ Welcome Remarks
Magda Bianco and Anna Zelentsova, GPFI Co-Chairs

🏛️ 1st Panel Discussion 🏛️
Prudential Principles to Address Risk and Promote Responsible Business Practices in Fintech
Speakers: the Financial Services Authority (OJK), World Bank, and Better Than Cash Alliance (BTCA).

⚜️ 2nd Panel Discussion ⚜️
Fintech role in supporting MSME digitization and accelerating economic and financial inclusion
Resource persons: GoTo (Decacorn Indonesia) and Avanti Finance (Fintech Company India)

Therefore, kindly register yourself immediately!

Financial Inclusion for Sustainable Economic Recovery
Recover Together, Recover Stronger

PS: Free e-certificate

International Financial Architecture Working Group (IFAWG): G20 Commitment to Support Low Income and Vulnerable Economies and Increasing International Financial System Resilience and Stability

Jakarta, 28 January 2022 – The current international financial system is generally considered more resilient than during previous global crisis episodes despite a surge of Omicron cases.  Notwithstanding, various risks to the international financial system must be anticipated to avoid impeding the global economic recovery process.  That was the key takeaway of the G20 International Financial Architecture Working Group (IFAWG) meeting held virtually under the auspices of Indonesia’s G20 Presidency (represented by Bank Indonesia and the Ministry of Finance) on 27-28th January 2022. IFAWG is a G20 working group focused on discussing efforts to strengthen resilience and maintain international financial system stability.

On the first day of the meeting, IFAWG discussed the dynamics of capital flows and the optimal policy response for developing economies, strengthening the global financial safety net and efforts to reinforce financial system resilience against various sources of vulnerability.  Risks to the international financial system, including a potentially tighter monetary policy stance given the build-up of inflationary pressures, limited policy room, persistently high leverage in different jurisdictions and higher financial market volatility, dominated the discussion considering their potential to obstruct the world economic recovery process.

Consequently, the G20 is firmly committed to reviving the global economy, while supporting low-income countries facing economic vulnerability in need of funding to address the pandemic impact by disbursing the IMF’s Special Drawing Rights (SDR)[1] voluntarily to countries with strong external condition.  This is a continuation of the global ambition applauded by G20 leaders at the Rome Summit in 2021.  At the meeting, G20 members also welcomed the progress to establish a Resilience and Sustainability Trust (RST) by the International Monetary Fund (IMF) as an option for the SDR reallocation to tackle long-term funding issues in low-income countries and developing economies with vulnerabilities, particularly to tackle the pandemic and mitigate climate change.  In addition, the G20 acknowledged the importance of fostering international coordination to strengthen the global financial safety net.  G20 members also discussed efforts to maintain sustainable capital flows, including risks and benefits analysis of currency diversification for international trade and finance transactions.

On the second day, IFAWG discussed efforts to strengthen funding support and debt management in low-income countries.  Given the conclusion of the Debt Service Suspension Initiative (DSSI) for low income countries at the end of 2021, G20 members also discussed the direction of strengthening debt management policy for poor countries via the Common Framework for Debt Treatments beyond the DSSI.  Assistance for poor countries to improve their debt management capacity was also discussed.  In addition, G20 members reaffirmed their commitment to increasing transparency and sustainability when providing funding assistance for low-income and developing economies, particularly with the spirit of Recover Together, Recover Stronger.

The Indonesian delegation took the opportunity to highlight the importance of strengthening the international financial system and also maintaining a multilateral spirit to address the global challenges brought by the pandemic to ensure a robust and inclusive economic recovery.  Indonesia also reiterated its support to help LICs and LDCs overcome the pandemic.

The fruitful discussion and outcomes of the IFAWG meeting demonstrate the strength of collective efforts by the G20 to increase international financial system stability and resilience throughout 2022 as part of the topics to be reported and receive further guidance from the G20 Finance Ministers and Central Bank Governors at the meeting in February 2022.


[1] Special Drawing Rights (SDR) are international foreign exchange reserves created by the International Monetary Fund (IMF) in 1969 as supplementary foreign exchange reserves for member countries.

The 2nd G20 Joint Finance and Health Task Force (JFHTF) Meeting: G20 Finance and Health Ministries Continue to Collaborates on Pandemic and Future Health Emergencies Prevention, Preparedness, and Response (PPR)

Jakarta, January 27, 2022 –The Ministry of Finance and Ministry of Health of Indonesia hosted the 2nd G20 Joint Finance and Health Task Force (JFHTF) on January 26th, virtually after its first meeting on December 20th, 2021. Wempi Saputra, the Indonesian Assistant Minister of Finance for Macro Economy and International Finance, is acting as the Indonesian G20 co-chairs together with Ronaldus Mujur, Senior Advisor to the Indonesian Minister of Health for Governance. In hosting the meeting, Indonesia collaborates with Italy as the G20 JFHTF co-chairs. The meeting was attended by G20 members, invitees, and International Organizations such as the World Health Organization (WHO), World Bank (WB) International Monetary Fund (IMF), Multilateral Development Banks, the OECD, and other relevant International Organizations in the health sector.

As JFHTF co-chairs, Wempi Saputra began the meeting by setting out the report on the discussed Work Programme with all G20 members. Issues covered by the Work Programme comprise the enhancement of Finance and Health coordination, the establishment of the JHFTF secretariat, and the Global Health Financing Facility. Wempi invites G20 member countries to work together to make it happen. “Indonesia and Italy as the co-chairs of JFHTF, remain committed to ensuring the success of this Task Force.” Senior Advisor to the Indonesian Minister of Health for Governance, Ronaldus Mujur, acting also as the co-chairs of JFHTF, emphasizing that the works of the JFHTF are expected to be the concrete output of the G20 Indonesia Presidency. “JFHTF shows how we as G20 countries could perform our best colossal effort and to leave a legacy to the world,” said Ronaldus.

In this 2nd G20 Joint FHTF Meeting, G20 countries in general, convey their support and input on the proposed Work Program prepared by Indonesia and Italy as co-chairs, including the establishment of the Secretariat. G20 countries support the Access to COVID-19 Tools Accelerator strengthen related to vaccination target monitoring, testing, nursing, and global Personal Protective Equipment (PPE). G20 countries also support the acceleration of global vaccination, fairly and fully distributed at an affordable price.

G20 supports the 70 percents global vaccination target by mid-2022. Accordingly, the G20 supports the partnership with governments and non-government bodies at the global and regional levels in addressing finance and trade barriers to ensure that vulnerable populations have access to these life-saving tools. The G20 countries underlined the important role of the Secretariat in supporting health and financial coordination to actualize the pandemic and other health emergencies prevention, preparedness, and response (PPR) in line with the International Health Regulations.

As a joint task force, the Finance and Health Ministries of the G20 Countries with WHO and World Bank will carry out further identification in order to increase cooperation in the health and financial fields. In the establishment of the financing facility agenda, G20 countries expressed their perspectives on the importance of global financing mobility in efforts to prevent, detect, and respond to pandemics within the International Health Regulations (2005) framework. The JFHTF will consider the strategic assessment of health and finance collaboration options. The results of the discussions will be presented at the Finance Ministers and Central Bank Governors Meeting (FMCBG) on 17-18 February 2022, inviting the G20 Health Ministers to the meeting.***

Involving multi-stakeholders, Indonesia Makes Endeavours for Digital Issues through DEWG

JAKARTA, January 26, 2022 – Indonesia’s Ministry of Communications and Informatics involved various parties to discuss three priority issues of the Digital Economy Working Group (DEWG) Forum in Indonesia’s G20 Presidency 2022.

Secretary General of the Ministry of Communications and Informatics Mira Tayyiba, who serves as Chair of DEWG, stated that cross-sectoral cooperation to discuss Connectivity and Post-Covid Recovery, Digital Literacy and Digital Talent, and Cross Border Data Flow/Data Free Flow with Trust will involved National Knowledge Partners and National Strategic Stakeholders.

“On this occasion, we open up opportunities for collaboration with any parties. We are collaborating with academics from the University of Indonesia (UI), Gadjah Mada University (UGM), Padjadjaran University (Unpad), and the Center for Strategic and International Studies (CSIS) as our knowledge partners,” she told the G20 Media Gathering which was held on hybrid mode in Central Jakarta, Wednesday (Jan 26, 2022).

According to Mira Tayyiba, the Ministry of Communications and Informatics also involved National Strategic Stakeholders as well as other ministries and institutions to discuss digital issues relevant to their respective sectors.

“For example, discussions on employment with the Ministry of Manpower, education with the Ministry of Education, Research, and Technology. On top of that, we also collaborate with business, associations, e-commerce, big data, cyber security, connectivity, digital literacy, we invite all,” she explained.

Meanwhile, the National Strategic Stakeholders involved the Big Data and AI Association, the Indonesian Telematics Society, the national digital literacy collective Siberkreasi, the Indonesian e-Commerce Association, the Indonesia Cyber Security Forum, and the Indonesia Internet Service Provider Association.

“So we expect DEWG to deliver real programs that are relevant for all, not only for developed countries, but also developing countries. Also to become our common platform because we have to work together,” she explained.

Covering All Aspects

DEWG G20 Chair explained that the DEWG forum is a digital issue that covers all aspects of development, especially those related to the Covid-19 pandemic which impacted all sectors.

“There are many issues to be discussed on the Sherpa track, from trade, industry, education, health, and more. It is a working group managed by ministries and institutions. Almost all of them raise digital issues, whether in relation with education or employment,” she said.

According to Mira Tayyiba, the Ministry of Communications and Informatics was given a mandate from the Sherpa Track as the leader of DEWG to become the “class president” for cross-sectoral digital issues.

“The ministry’s task is to streamline all digital issues to make them coherent and cohesive. For example, the women empowerment or the children protection issue will be answered with digital literacy, later we will also answer it with online safety,” she said.

The Ministry is committed to using the momentum of Indonesia’s G20 Presidency not only to bring the digital sector through the three DEWG issues nationally and internationally.

“So not only we are fighting for these issues globally, but we are also using this opportunity to consolidate the management of national digital issues. It’s not surprising if all sectors talk about digital issue, because it is fluid, it can be used by many people,” explained the DEWG Chair.

Supporting DEWG Assemblies

Spokesperson for the Ministry of Communications and Informatics, who also serves as Co-Chair of DEWG, Dedy Permadi, stated that the involvement of National Knowledge Partners was to discuss and formulate the substance of the DEWG forum assemblies.

“We involve National Knowledge Partners or national substance partners consisting of UI, UGM, Unpad, and CSIS Indonesia. The four National Knowledge Partners together with MCI prepare the substance of the assemblies. We also invite other stakeholders to work together to support the success of the G20 this,” he explained

Dedy Permadi explained the four partners were chosen for it is expected to gain substances from the assemblies during DEWG forums.

“The consideration is that we are trying to be as inclusive as possible, while not everyone can be involved. So we see that substance wise, we can complement each other with knowledge partners,” he said.

Previously, Dedy Permadi explained about the birth of the G20 Presidency which was motivated by global problems. Starting from the Asian Financial Crisis in 1997-1998, which later escalated into the Global Financial Crisis.

“And this forum was formed because in the past, the G7 was not enough to answer the problems, and they were trying to involve not only rich countries, but also the middle class countries. Thus the G20 was formed, which has answered global problems even from the beginning of its formation,” he explained.

Along the way, there were many global issues which the presence of the G20 forum had helped address, including the 2008 global economic crisis which hit again and slumped Indonesia.

“Through those crisis, G20 was part of the world problem solution. This include when the Covid-19 hit, we have the G20 forum which made endeavours to discuss the solution. In the Finance Track, for example, debt payment rescheduling is made so that countries can survive in the midst of the Covid-19 pandemic,” explained Dedy Permadi.

Dedy Permadi emphasized that digital issues are very important for Indonesia, because since 2019, Indonesia has been fighting for a promotion of class level from a task force to a working group.

“Indonesia has been fighting for it since 2019 and in 2020 it continued the fight and the class level up was agreed. So, Indonesia is the first country to lead the digital economy working group at the G20 forum,” he concluded.***

Indonesia Emphasizes Accessible and Affordable Sustainable Finance during the First G20 Sustainable Finance Working Group (SFWG), Raising the Spirit of Recover Together Recover Stronger

Jakarta, January 26, 2022 – Under the Indonesian G20 Presidency, the first sustainable Finance Working Group (SFWG) meeting was jointly hosted by the Ministry of Finance and Bank Indonesia. In her opening speech, Dian Lestari, Director of Centre for Climate Finance and Multilateral Policy, Fiscal Policy Agency, Ministry of Finance highlighted, “We recognize the importance of creating an enabling environment to help enable the financial market to meet the goals of the Paris Agreement and 2030 Agenda. Discussion on the range of policy levers that incentivize financing and investment that, would be key to support a just and affordable transition”. The sessions were led by the United States of America and the People’s Republic of China as the SFWG co-chairs and moderated by UNDP as the SFWG Secretariat to discuss the 2022 SFWG Note on Agenda of Priorities.”

The Note on Agenda of Priorities in 2022 includes reporting on the progress of the G20 Sustainable Finance Roadmap, endorsed by G20 Finance Ministers and Central Bank Governors in October 2021. The report primarily review works being done voluntarily by members both in the Finance Track and the Sherpa Track, international organizations, and other international networks and initiatives, in relation action plan from the roadmap.

The First Finance and Central Bank Deputies Meeting on 9 – 10 December 2021, the SFWG Meeting further discussed three workstreams for 2022, namely: (1) Developing of a transition finance framework to strengthen credibility of financial institution commitments. The development of a transitional financial framework is intended to enable financial markets support the transition of global economy towards sustainability. In parallel, improving the credibility of financial institutions commitments is carried out by establishing best practices to implement net-zero and related commitments; (2) Scaling up sustainable finance instruments, focusing on improving accessibility and affordability. These include discussion on access to global sustainable finance markets, risk reduction mechanisms for sustainable finance instruments, and addressing knowledge gaps related to sustainable finance instruments, especially for relevant stakeholders in developing countries and Small and Medium Enterprises (SMEs); and (3) Discussing policy levers related to incentivize financing and investment which support the transition. During this discussion, participants highlighted the impact of policy levers on financial markets and policy options, considering the difference in national circumstances.

The first SFWG Meeting was attended by all G20 members, invitees, and international organizations. Co-chairs will bring the first SFWG Meeting results into the discussion at the Second Finance and Central Bank Deputies Meeting and the First Finance Ministers and Central Bank Governors (FMCBG) Meeting held in February 2022.

Jokowi, Tony Blair to Attend the B20 Presidency’s Preliminary Meeting

JAKARTA, 26 January 2022 – To mark the formal and public start of the B20 Indonesia Summit 2022, the Indonesian Chamber of Commerce and Industry (KADIN), as the organizer, will convene a preliminary meeting or B20 Inception Meeting with all representatives of G20 countries in Jakarta on January 27—28, 2022.

The inaugural B20 Indonesia 2022 Summit will bring together 1,500 delegates from G20 member countries, including corporate leaders, high-ranking government officials, and business associations, as well as many keynote speakers who will address the most pressing priority issues of the global economic agenda.

According to Arsjad Rasjid, the Chairperson of KADIN, who is also in charge of the B20 Presidency, the B20 Indonesia 2022 forum is themed “Innovative Progress, Inclusiveness, and Collaborative Growth.” Through a joint forum with the worldwide business community that will offer policy papers, the goal is to lead to a stronger and more sustained recovery stimulus for all countries.

The derivatives of the three priority issues are continuing collaborative recovery and growth by facilitating cross-border cooperation to make a stronger recovery together, boosting an innovative global economy by harnessing the potential of rapid technological progress and creativity, and forging an inclusive and sustainable future by empowering women and MSMEs and preserving livable earth.

President Jokowi is expected to attend the B20 Inception Meeting, where he will open the event and provide guidance on three priority issues that must be addressed at B20, namely Global Health Architecture, Digital Transformation, and Energy Transition. The president expects that by mastering these three aspects, the country’s enormous aim of becoming the world’s seventh biggest economy by 2030 can be accomplished.

Airlangga Hartarto, the Coordinating-minister for the Economy of the Republic of Indonesia, will be one of the primary speakers at this preliminary meeting, in addition to President Jokowi. Airlangga will speak on Indonesia’s plans and priorities for the G20 presidency, as well as the significance of the B20 Forum in the context of the G20.

“The government wants the B20 Forum to serve as a springboard for Indonesia’s economic recovery. This is because the forum will bring together business leaders from global corporations, organizations, and the business community from all G20 member countries to provide formulations and feedback on economic recovery throughout the epidemic,” noted Arsjad.

One of the most essential aspects of the B20 Indonesia 2022 Inception Meeting is the presence of high-ranking officials and delegates from G20 countries who contribute fresh ideas and insights regarding recommendations or policies that must be implemented in the context of post-pandemic economic recovery.

Former British Prime Minister Tony Blair, who is also the Executive Chair of the Tony Blair Institute for Global Change, and Professor Klaus Schwab, Founder and Executive Chair of the World Economic Forum, are among the high-ranking delegates who will be present as keynote speakers, according to Shinta Kamdani, Deputy Chairperson for Maritime Affairs, Investment, and Foreign Affairs and Chair of the B20 Organizer.

Tony Blair will speak about the importance of global health in ending the present pandemic as well as joint efforts in preventing future pandemics. Meanwhile, Prof. Klaus will speak about the critical importance of collaboration and innovation among many stakeholders in addressing global issues.

In addition, Dr. Kishore Mahbubani of the Asian Research Institute at the National University of Singapore will give an overview of the changing geopolitical context as a result of the pandemic, the implications for business, and what policy recommendations the B20 group should pay attention to at this event.

Meanwhile, Brad Smith (President & Vice-Chairman of Microsoft), Joseph C Tsai (Executive Vice Chairman of Alibaba), Michael R Bloomberg (Founder of Bloomberg LP), Alok Sharma (President of COP26), Amin H Nasser (President & CEO of Saudi Aramco), and Mark Carney (UN Special Envoy on Climate Action and Finance) will participate in the Fireside Discussion on the topic of innovation and sustainability.

Business leaders from these massive multinational corporations, Shinta believes, will provide insight into what collaborations, innovations, and technologies are possible to help the world recover from the pandemic, as well as the steps that businesses can take to keep the planet livable, including in the environmentally friendly energy sector.

“KADIN Indonesia is hoping that this forum would generate ideas that can be translated into regulations and tangible investments.” Of course, in order to achieve this, the business community or entrepreneurs must collaborate with the public (government) in the implementation of large-scale investment projects that will have a significant-good influence on society and the country,” Arsjad said.

This preliminary B20 meeting is held with the support of PT Astra International Tbk, PT Bayan Resources Tbk, PT Indika Energy Tbk and Sinar Mas Group.***

Values 20 2022 (V20) a Global Activity to Provide Values Based Input for Public Policy Development: “Values at The Center” Nenilai appointed as organizer of the 2022 V20 Summit in Indonesia

Jakarta, 25 January 2022 – The first V20 Summit was launched in 2020 aimed at deepening understanding of how values can strengthen public policy. V20 is a global community of values experts and practitioners that seek to actively engage with the Group of Twenty (G20). Previously, V20 was successfully held in Saudi Arabia in 2020 and in Italy in 2021. In its third year, V20 2022 will be held on 20-21 October 2022 in Bali, and Nenilai has been entrusted as its organizer.

Nenilai is a movement initiated by Dayalima Abisatya together with BAPPENAS (Ministry of National Development Planning of the Republic of Indonesia), Indika Energy, Pantarei Communications, and Stoik Trisula. Nenilai aims to build Indonesia through surveys and meaningful dialogues about the values important to the individual, the community, and the nation. On July 2 until December 31 2020, Nenilai conducted an online National Value Survey that reached 50,542 respondents aged 15 years and above throughout Indonesia.

Values 20 trusted Nenilai to be the Organizing Committee of the V20 2022 in Indonesia. It was marked with a handover ceremony that took place during V20 2021 Summit in Rome, Italy, on the 15th of October 2021. The Summit of V20 2022 this year will be held in Bali on 20-21 October 2022.

“It is a great honor for Nenilai to share globally how Indonesians across generations adhere to values such as “Gotong Royong (sense of community)” and “Diversity”. By hosting the V20 Summit 2022, Nenilai hopes to expand engagement and present real examples in the application of values for the transformation of Indonesia into a more advanced nation and to play a significant role globally,” said Dr Vivi Yulaswati, Expert Staff to the Minister, Social Sector and Poverty Reduction at National Development Planning (BAPPENAS).

Starting from its inception, the V20 intends to demonstrate how values play a critical role in supporting the achievement of the G20 policy goals and realizing the UN 2030 Agenda for Sustainable Development. “We believe that by increasing awareness of the systemic role of value, why and how value emerges from processes, institutions and structures, we can substantially increase the coherence, effectiveness, and longevity of a policy,” explained Dr Mandeep Rai, V20 Founding Group.

The theme of V20 2020 in Saudi Arabia was “The Value of Values”, while in Italy 2021 it was “Values in Action”, which aimed to convert the current urgent global crisis into an opportunity for inclusive transformation. “This year, the V20 2022 is themed ‘Values at the Center’. We hope to deepen the understanding of values in public policy with data-based and human-focused policy solutions that contribute to overcoming global challenges in line with the theme of the Indonesian G20 Presidency, RECOVER TOGETHER, RECOVER STRONGER,” said Dr Ghazi Binzagr, V20 Founding Group.

Alissa Wahid, V20 2022 Co-Sherpa, explained the importance of public awareness on the significance of values and culture that we hold and live by together. “The understanding of values can provide an important reflection space for us as a nation. Furthermore, there are still values that hinder progress, which is reflected by the high level of cultural entropy in our society. We need to seriously implement social engineering efforts to keep moving forward to claim the benefits of the demographic bonus in the near future and in conjunction with Indonesia’s 100th anniversary.”

With this basis, this year’s V20 seeks to develop policy recommendations based on the priorities set by the G20 2022. “V20 uses the approach of the Sustainability Compass model from Compass Education, which is the balance of the compass point of views: Nature, Economy, Wellbeing, and Society. The V20 will also propose a set of values for the G20 community based on the theme and strategic priorities of the G20 2022, the G20 declaration of the past years, as well as a general understanding of the different stages of growth of different nations within the G20,” said Prof. Dr. Makarim Wibisono, V20 2022 Co-Sherpa.

The V20 2022 Summit will also feature cultural events to facilitate the dissemination of key messages and to allow for the public’s involvement. In addition, prior to the V20 2022 Summit in October, there will be a series of virtual activities such as a Film Week in May, and a Performing Arts Week in August. Both events will also have webinars featuring various values-based practices from different institutions, both from Indonesia as well as from other G20 member countries.

“The basic values of Pancasila can be introduced by Indonesia at the international level through the V20. In the face of a pandemic, the world cannot be divided but should stand together to help each other and collaborate. The V20 program is expected to encourage the growing awareness of the Indonesian people as well as the world about the importance of understanding the value of inclusivity, that can be found in our ideological foundation: Bhineka Tunggal Ika (Unity in Diversity). In addition, all activities of the business world, as one of the key driving forces of a country’s economy, must always pay attention to the aspects of Governance, Social, and Environmental. This is important to build a sustainable economy in Indonesia, and everywhere else in the world,” said M. Arsjad Rasjid PM, V20 2022 Advisory Board and Chairman of the Indonesian Chamber of Commerce and Industry.

***

The First G20 Infrastructure Working Group Meeting To Encourage Recovery of the World Economy

Jakarta, January 21, 2022 – As part of Indonesia’s G20 Presidency serial activities, the Ministry of Finance and Bank Indonesia held the first G20 Infrastructure Working Group (IWG) on 20-21 January 2022. The virtual meeting was attended by G20 member countries and several international organizations. In line with theme of the Indonesian presidency, “Recover Together, Recover Stronger,” this meeting examined the efforts to encourage the post-COVID-19 world economic recovery through the development of higher-quality infrastructure.

IWG G20 meetings will be held several times in 2022, to discuss and to sharpen the role of infrastructure investment during and after the pandemic by focusing on four main agendas. The agenda are (i) Scaling up sustainable infrastructure investment by leveraging private sector participation; (ii) Enhancing social inclusion and addressing subnational disparities; (iii) Increasing digital and InfraTech investments; and (iv) advancing transformative infrastructure post-COVID-19. The meetings will also continue to discuss the legacy topics of the previous G20 presidencies, including developing the quality infrastructure investment (QII) indicators.

On January 19, 2022, Indonesia’s presidency also hosted a seminar with the theme “Scaling up Sustainable Infrastructure Investment by Leveraging Private Sector Participation”, that aims to open the discussion on the year-long agenda by inviting private parties and other infrastructure stakeholders. The seminar was co-organized by Global Infrastructure Hub (GI Hub) and Indonesia Presidency. The seminar also presented international organizations such as EDHECInfra, GRESB, CCRI, EBRD, OECD, and China-Africa Development Fund. In addition to the international organizations, the seminar also presented representatives from private parties such as HSBC, Meridiam, I Squared Capital, and SMBC. The presence of private partners is expected to show potential sources of financing and to understand private perspectives on sustainable infrastructure.

Through this first meeting and seminar, Indonesia seeks to obtain input from G20 member and international organizations regarding the G20 infrastructure agenda and the deliverables that need to be achieved this year, which will then be submitted for discussion in the Finance Ministers and Central Bank Governors Meeting later in February 2022.***

The Indonesian G20 Presidency Set To Redefine The Role Of Infrastructure Investment During And After The Pandemic On The 1st Infrastructure Working Group Meeting

JAKARTA, January 21, 2022 – The G20 Infrastructure Working Group (IWG) had its first meeting under the Indonesian G20 Presidency in an event hosted by the Ministry of Finance and Bank Indonesia on 20-21 January 2022. Brahmantio Isdijoso, Director of Government Support and Infrastructure Financing Management at the Ministry of Finance, set out the priorities of the Indonesian Presidency for 2022,  delivered a report from the December Finance and Central Bank Deputies Meeting, and proposed an infrastructure agenda for 2022.

The IWG meeting was held over two consecutive days. The discussion covered six different topics and was moderated by the IWG co-chairs who are from Australia and Brazil. The first day of discussions focused on private sector participation in sustainable infrastructure investment, social inclusion and sub-national disparities, and gaps in InfraTech infrastructure. On the second day, the group discussed transformative infrastructure, GI Hub Governance, and the Quality Infrastructure Investment (QII) indicators. The co-chairs summarized the discussion and outlined next steps and considerations for the First Finance Ministers and Central Bank Governors Meeting of the Indonesian Presidency which will be hosted in Jakarta next month. 

The 2022 Work Program for the Infrastructure Working Group (IWG) reflects the widespread impact of the COVID-19 pandemic across sectors. Indonesia indicated that The COVID-19 pandemic has disrupted investment flows into infrastructure. Meanwhile, shrinking fiscal space has forced governments to focus their limited resources on areas such as health and social security. The pandemic has also widened existing disparities on infrastructure delivery among sub-national governments and regions. Finally, the Presidency emphasized the importance of redefining the role of infrastructure investment during and after the pandemic.

The meeting was also attended by Spain as the G20 permanent guest, selected guest countries, and International Organizations such as Global Infrastructure Hub (GIH), the International Monetary Fund (IMF),  Multilateral Development Banks, the OECD, and other relevant International Organizations.

IN SUPPORT OF THE G20 PRESIDENCY, GERNAS BBI CAMPAIGNS ELECTRIC VEHICLES

Hybrid car photo created by frimufilms – www.freepik.com

Jakarta, 19 January 2022 – Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan launched the Gernas BBI (Proudly Made in Indonesia National Movement) in Jambi on Wednesday (19/1/2022). This time, Gernas BBI highlighted domestically produced electric vehicles as an example of environmental concern emphasized during Indonesia’s G20 presidency, notably the energy transition.

Locally produced motorcycles and cars were on display during the Gernas BBI, which took place at Sultan Thaha Airport in Jambi. In his remarks, Luhut stated, “This is in the framework of Indonesia’s G20 Presidency and to welcome the G20 Summit in Bali.”

Many foreign foundations, including the Rockefeller Foundation and the Bill Gates Foundation, addressed letters to President Jokowi requesting to attend the G20 Summit, according to Luhut. “They are really enthusiastic about assisting Indonesia in the areas of climate change and dealing with marine plastic trash, as well as assisting MSMEs,” Luhut said.

On the same occasion, the Minister of Transportation Budi Karya Sumadi stated that the Gernas BBI this time also features an electric vehicle promotion. “There is an electric car touring from Jakarta to Lampung, then to Palembang, and finally to Jambi, involving national racer Rifat Sungkar,” said Minister of Transportation.

Jambi Governor Al Haris stated that the Gernas BBI in his region is carried out under the go green theme. Green hues from numerous plants that grow in Jambi abound in the launch place. He remarked, “The area where we are present is full of plants, especially ferns, which thrive abundantly in Jambi’s forests.” ***