Indonesia’s Commitment to SDGs 2030: Mobilizing Innovative Finance for Inclusive Development
Indonesia firmly supports the 2030 SDGs Agenda and its guiding principle of “leaving no one behind”. Through Vision 2045, Indonesia is committed to improving the welfare of diverse communities and reducing disparities between regions and income groups.
Indonesia is also dedicated to creating a more inclusive society, ensuring that the benefits of development reach even the most vulnerable groups. Additionally, Indonesia is realizing the transformative potential in our economy, by increasing economic productivity and finding new sources of growth.
Indonesia is committed to achieving the SDGs by 2030, by ensuring that SDG principles are mainstreamed into Indonesia’s Vision 2045, namely Indonesia’s Long Term Development Plan.
Transformation is the backbone of achieving Vision 2045. To achieve this, the Government of Indonesia is actively developing innovative financing mechanisms, including Public-Private Partnerships (PPP) and blended financing, to catalyze sustainable development.
Therefore, the OECD’s aim to expand partnerships with Indonesia in developing innovative financing mobilization to support Indonesia’s Vision 2045, is very welcome.
In connection with efforts to achieve the SDGs, Indonesia has also initiated the formation of the Global Blended Finance Alliance (GBFA) at the G20 Presidency in 2022. GBFA was built based on the Tri Hita Karana Roadmap on Blended Finance 2018 which was prepared in collaboration with the OECD and the World Economic Forum (WEF).
GBFA encourages optimal operationalization and delivery of blended financing in developing countries, including Least Developing Countries (LDCs) and Small Island Developing States (SIDs).
At the regional level, the ministry and the province of Bali have worked together to establish the Bali-Kerthi Development Fund (BDF) which was launched in August 2023. The BDF is an agency in Bali Province, Indonesia, responsible for mobilizing non-state funding to support the Transformation Agenda Bali-Kerthi Economy.
The Bali-Kerthi Development Fund is the first local institution to encourage innovative financing and is designed to work closely with the Global Blended Finance Alliance (GBFA).
Source: Bappenas
