Sri Mulyani Urges Multilateral Banks To Realize Climate Change Funding Commitment

Minister of Finance Sri Mulyani. (Photo: Doc. ANTARA)

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani conveyed pressure to Multilateral Development Banks (MDBs) to realize the fulfillment of funding commitments for developing countries.

This was conveyed by the Minister of Finance in his speech at the 2023 Asian Infrastructure Investment Bank (AIIB) annual meeting in Egypt earlier this week.

"This is intended to achieve global climate change targets," he said in a written statement as reported by the official website today, Wednesday, September 27.

Sri Mulyani explained that Indonesia is one of the leading countries in overcoming the challenges of climate change.

This can be seen from the commitment to develop renewable energy.

"We have consistently accelerated the energy transition that has been produced by Indonesia, among others, through the Energy Transition Mechanism Country Platform and the ASEAN Autonomy version 2 which is more compatible and interoperable," he said.

He stated that the roadmap that had been prepared was expected to open easier access for private investment.

The state treasurer added that the same priority regarding the energy transition was also voiced by the Turkish Finance Minister during the discussion session.

"Environmentally friendly transition is no longer an option, but a must," said Sri Mulyani.

Launching information from the Ministry of Finance, based on the results of discussions at the United Nations Framework Convention on Climate Change (UNFCCC) in COP26 in Glasgow, Indonesia is expected to reach a Nationally Determined Contribution (NDC) in reducing CO2 by more than 42 percent with international cooperation, which will require 280 billion dolas