Jakarta, The Indonesia Post – Minister of Finance Sri Mulyani Indrawati invited the World Bank to be involved in realizing Indonesia’s various priority agendas ranging from economic recovery, food and energy security, to climate change mitigation.
The invitation was conveyed by Sri Mulyani in a bilateral meeting with the President of the World Bank Group (WBG) David Malpass in Washington D.C., United States on Monday (10/10).
In an official statement from the Ministry of Finance received in Jakarta, Tuesday, the meeting between Sri Mulyani and Malpass also discussed the latest global economic developments and outlook, geopolitical tensions, and G20 issues.
Sri Mulyani conveyed the progress of Indonesia’s economic recovery from the impact of the COVID-19 pandemic, as well as efforts to control inflation, including the World Bank’s support for tax reform and the financial sector.
She said she wanted the World Bank to be more involved in achieving various important Indonesian agendas, both in terms of funding and non-financing.
Regarding the G20 issue, Sri Mulyani provided updates and sought support regarding the priority agenda of the G20 Presidency of Indonesia, especially in the financial channel, including in the medium-term action for food security.
For climate change, Sri Mulyani welcomed the World Bank’s support in encouraging Indonesia’s decarbonization initiatives in a fair and affordable manner through energy transitions, Country Platforms, carbon economic values, and innovative climate finance.
Sri Mulyani and the World Bank are exploring ways to strengthen greenhouse gas emission reductions, such as through a World Bank trust fund and Scaling Up Climate by Lowering Emissions (SCALE).
World Bank Group President David Malpass also appreciated Indonesia’s steps in contributing to the G20 Financial Intermediary Fund (FIF) managed by the World Bank.
She ensured that the World Bank will continue to use various resources to support the global recovery including improving food security, global health architecture, energy transition, and climate change.
Specifically for Indonesia’s policies, Malpass praised the government’s steps in reducing the cost of subsidies.
She also saw the great benefits that Indonesia enjoyed from social assistance that was distributed directly to the community, including social assistance for food and fuel.
Malpass reaffirmed the World Bank’s commitment to support Indonesia’s energy sector reform as part of its energy transition efforts. (mhn/bbs)
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