Indonesia Accelerates Discussion Of Global Mixed Funding Alliance Programs

Rupiah (Photo: Antara)

JAKARTA - The Indonesian government has accelerated the discussion of advanced programs for the Alliance of Global Mixed Funding or Global Blended Finance Alliance (GBFA). This is to realize climate projects and achieve Sustainable Development Goals (SDGs).

"In two weeks, on the 6th (June) we will meet via zoom to discuss the program," said Coordinating Minister for Maritime Affairs and Investment (Menko Marves) Luhut Binsar Pandjaitan quoting Antara.

Coordinating Minister for Maritime Affairs and Fisheries said member countries have high enthusiasm regarding the GBFA spearheaded by Indonesia regarding the funding for the mixture and are excited to develop the next program.

The member countries are the United Arab Emirates (UAE), Fiji, France, Sri Lanka, Congo, Kenya, Luxembourg, and Canada and Indonesia as the hosts.

The GBFA initiative was born at a meeting of 19 countries and the European Union which are members of the G20 in November 2022 in Bali.

Meanwhile, on the sidelines of the 10th World Water Forum, the GBFA headquarters was also inaugurated which was centered in the Special Economic Zone (SEZ) of Health in Sanur, Denpasar, Bali on Monday (20/5).

Later, Luhut continued, the program will be included in the South-South state cooperation program which involves various matters including water problems, poverty, and stunting.

"So Indonesia has a platform to provide assistance to financial gaps (constraints) that occur in developing countries. This shows Indonesia's leadership and the achievement of President Joko Widodo for 10 years as president," added Luhut.

GBFA represents an innovative initiative to implement mixed funding principles to support environmentally friendly transitions for developing countries and archipelagic countries, as well as South-South Cooperation.

Through GBFA, southern-south cooperation (South-South Cooperation) can take advantage of the strength of various communities to encourage progress towards joint goals through collaboration between countries.