President Jokowi Proposes Three Things To Prevent The Missing Decade Of Development

JAKARTA - President Joko Widodo (Jokowi) proposed three things that must be done to prevent the threat of missing decades of development when delivering a virtual speech at the High-Level Dialogue on Global Development.

The forum became a side agenda for the XIV BRICS Summit centered in Beijing, China, with a series of virtual events, and President Jokowi from the Merdeka Palace, Jakarta emphasized that urgent action must be taken to prevent the threat of decades of lost development amid challenges to food, energy and security security. financial stability facing the world.

"There are three steps that we must take together. First, synergy to overcome emerging challenges," he said in a speech broadcast on the official YouTube channel of the Presidential Secretariat reported by ANTARA, Friday, June 24.

Jokowi reminded Indonesia, which currently holds the G20 presidency and is part of the Global Crisis Response Group, will continue to contribute to addressing issues of food security, energy and financial stability.

He admitted that he noted many other initiatives from various parties. Jokowi emphasized that these initiatives must synergize and strengthen each other, taking into account the voices of developing countries, and promoting dialogue.

"Secondly strengthen the global partnership for the SDGs with a focus on development funding," he said.

President Jokowi explained that the funding gap for the United Nations Sustainable Development Goals (SDGs) has increased from US$2.5 trillion per year before the pandemic to US$4.2 trillion per year post-pandemic.

According to Jokowi, this gap must be closed and BRICS as a forum for new economic countries inhabited by Brazil, Russia, India, China, and South Africa, can play a role as a catalyst for the emergence of these funding innovations.

"Innovative funding must be promoted, especially the role of the private sector must be strengthened. BRICS must be a catalyst for strengthening investment in developing countries," he said.

President Jokowi emphasized that Indonesia will also take advantage of the G20 presidency to encourage investment that creates added value for developing countries.

Jokowi also encouraged the global development initiative (GDI) to become the catalyst for achieving the SDGs. This is among others through the alignment of GDI with the ASEAN Outlook on the Indo-Pacific (AOIP), where the element of achieving the SDGs is one of the spirits and priorities of the cooperation.

"Thirdly, new sources of growth must be strengthened," Jokowi said.

According to the President, the cooperation carried out by BRICS with partner countries must be accompanied by support for inclusive digital transformation, the development of green industries and green infrastructure, as well as strengthening the access of developing countries in the global supply chain.

Closing his speech, President Jokowi delivered the slogan of Indonesia's G20 presidency, namely recover together, recover stronger.

The threat of lost decades of development in many countries is mentioned in the 2021 UN Sustainable Development Funding Report (FSDR) published by the United Nations.

It was mentioned, due to the COVID-19 pandemic, the global economy experienced the worst recession in 90 years, with the greatest impact being felt by the most vulnerable groups of people.

The report estimates that 114 million jobs have been lost and about 120 million people again fall into extreme poverty, so action is needed to prevent the threat of decades of lost development in many countries.