Support The ASEAN Chairship Estate 2024, Indonesia Contributes IDR 6.5 Billion To Laos

Deputy Minister of Finance Suahasil Nazara (Photo: Antara)

JAKARTA - The International Development Cooperation Fund (LDKPI) or Indonesian AID distributed aid worth IDR 6.5 billion to support the Laos Government as Chair of ASEAN 2024, especially in the ASEAN Finance Process.

This commitment was marked by the signing of the Grant Agreement grant by the President Director of LDKPI together with the Director General of External Finance Department of Lao Ministry of Finance, and witnessed directly by the Deputy Minister of Finance of the Republic of Indonesia and the Minister of Finance of Laos, Wednesday, April 3 in Luang Prabang, Laos.

Deputy Minister of Finance Suahasil Nazara revealed that the grant program was intended to provide technical assistance to Laos officials in preparing the agenda for holding the 2024 ASEAN meeting, including through a series of sharing sessions, capacity building, and holding meetings.

According to Suahasil, that in the chairmanship of ASEAN last year, Indonesia had several initiatives that still need to be continued in the Chairship of the ASEAN 2024, especially the new initiatives proposed by Indonesia on financial lines such as the collaboration of the financial and health sector (ASEAN Joint Finance and Health Ministerial Meeting) and the Establishment of the ASEAN Treasury Forum (ASEAN Treasury Forum).

"This support not only shows a close cooperation commitment between the governments of Indonesia and Laos, but also emphasizes how important it is to continue the partnership. Collaboration between the two countries is concrete and has an impact on the ASEAN region by involving other member countries," he explained in his official statement, Thursday, April 4, 2024.

In addition, Suahasil conveyed Indonesia's commitment to ASEAN Finance Process was also realized by helping formulate substantive matters and logistics arrangements. In carrying out its activities, LDKPI cooperates with the Fiscal Policy Agency (BKF) of the Ministry of Finance.

Furthermore, in the Chairship of ASEAN 2024, Laos as chairmanship is responsible for formulating a priority agenda for chairmanship in 2024 and also has a responsibility to continue the agendas that have been mandated.

Suahasil conveyed that the Indonesian Government's support for Laos is also expected so that the cooperation in the ASEAN financial sector can produce agreements that promote financial stability and integration in the region, as well as strengthen economic growth amid challenges after the COVID-19 pandemic, namely connectivity, sustainability, and responsiveness from ASEAN.