Sri Mulyani at the G20 Forum: It is Important to Continue Sustainable Development Post Pandemic

Minister of Finance Sri Mulyani (right) in the G20 dialogue (Photo: Doc. Ministry of Finance)

JAKARTA – Minister of Finance (Minister of Finance) Sri Mulyani was the main speaker in the G20 dialogue entitled Infrastructure Development Through Innovation and Collaborative Financing: Toward Greater Inclusivity and Productivity which was held on a hybrid basis from Washington DC, United States.

In his speech, the Minister of Finance stated the importance of the G20 Presidency to generate sustainable infrastructure development after the COVID-19 pandemic.

"When we face global problems such as pandemics and climate change, even though countries can still freely operate according to their capabilities, you must also humbly admit that we cannot solve problems on our own even as a superpower in the world," she said in a written statement on Tuesday, October 11.

According to the Minister of Finance, Indonesia's G20 Presidency assured member countries that they need to continue to work together and collaborate in sustainable infrastructure development.

"In addition, we have agreed that a sustainable finance mechanism is needed by all countries to contribute, and also uses all institutions to reduce risks and mobilize more funds," she said.

The Minister of Finance added that Indonesia's G20 Presidency encourages development funding support to be increased, including through a review of the Capital Adequacy Framework (CAF).

"The CAF review aims to optimize the balance sheet in order to have more space for development funding for member countries," she said.

She also revealed that in the context of sustainable development, several initiatives have been carried out to cover infrastructure gaps and support national economic recovery programs such as renewable energy, climate change, digital infrastructure, as well as urban development projects.

"The Ministry of Finance has formulated policies and implemented these initiatives together with relevant ministries and stakeholders," she added.

On the same occasion, Lead Co-Chairs of Think 20 (T20) Bambang Brodjonegoro stated that one of the important issues that needed to be addressed was the financing scheme for infrastructure development.

He said investment and public-private partnership (PPP) are one of the main keys to creating a more sustainable and resilient infrastructure.

"In addition, in the PPP scheme, stakeholders, especially the government, also need to strengthen capacity building and provide appropriate incentives to the public and private sectors to improve sustainability," she said.