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G20 concludes with stronger recovery roadmap

Sept. 7-9 were historic days for the island and people of Belitung, Bangka Belitung, as it hosted its first ever international ministerial event – the Group of 20 Development Ministerial Meeting.

Inforial (The Jakarta Post)
Jakarta
Tue, September 13, 2022

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G20 concludes with stronger recovery roadmap

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ept. 7-9 were historic days for the island and people of Belitung, Bangka Belitung, as it hosted its first ever international ministerial event – the Group of 20 Development Ministerial Meeting. Upon their arrival on the island, ministers were greeted by cheering students lining the streets.

Held in Belitung from Sept. 7-9, the G20 Development Ministerial Meeting concluded with two deliverables, namely the G20 Roadmap for Stronger Recovery and Resilience in Developing Countries, including  LDCs (Least Developed Countries) and SIDS (Small Island Developing States) and the G20 Principles to Scale-up Blended Finance in Developing Countries, including LDCs and SIDS.

“Our meeting reflects the commitments of all members to deliver the shared objectives, that is to narrow the development gap and reduce poverty”, said Indonesia’s National Development Planning Agency head/ National Development Planning Minister Suharso Monoarfa in Belitung.

Minister Monarfa chaired the G20 Development Ministerial Meeting, joined by ministers and head of delegations from G20 members and the Indonesian Co-Sherpa, ambassador Dian Triansyah Djani.

The G20 Development Ministerial Meeting discussed advancing sustainable development goal (SDG) achievement through strengthening resilience against future crises, promoting innovative financing mechanisms and reinvigorating global commitments to multilateralism for the timely delivery of SDG achievement.

The meeting successfully concluded the work of the G20 Development Working Group over the past year. The roadmap first locates collective actions to accelerate the economic recovery of developing countries, through improving the productivity and competitiveness of micro, small and medium enterprises (MSMEs), optimizing adaptive social protection, the implementation of green economy and blue economy through low-carbon development and climate-resilient development.

Meanwhile, the G20 scaling-up blended finance principles set out principles that enable developing countries to effectively attract, deploy and scale-up blended finance.

In order to implement these principles and collective action, ministers will cooperate with developing countries, international organizations, multilateral development banks and other stakeholders through international development cooperation.

The G20 Development Ministerial Meeting was hosted by Indonesia’s National Development Planning Ministry, subsequent to a series of Development Working Group meetings previously held in Jakarta from Feb. 24-25, Yogyakarta from May 24-25 and Bali from Aug. 10-12.

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