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Blended finance to help reach development goals in Indonesia
Strong commitment is a promise that needs to be delivered on with secure and adequate financing. Indonesia is determined to utilize blended finance as an innovative financial mechanism to fund its international commitment goals, which are in line with Indonesia’s national priority strategies.
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Urban poor – A resident carries out her daily activities in a slum area in Kapuk Teko, Jakarta. Poverty alleviation is one of prime issues highlighted in the Sustainable Development Goals (SDGs), a global development agenda adopted by world leaders last year. (Antara/Rivan Awal Lingga)
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eaders from all over the world this week gather in New York to attend the high-level events of the annual United Nations General Assembly. Sustainable development is high on the agenda, related to climate change, Agenda 2030 on Sustainable Development (SDGs), universal health coverage, financing for development and a lot more.
Under the multilateral agreements, countries including Indonesia have committed themselves since 2015 to the Agenda 2030 on SDGs, and related international commitments, such as the Paris Agreement on Climate Change and the Addis Ababa Action Agenda on financing for development.
Strong commitment is a promise that needs to be delivered on with secure and adequate financing. Indonesia is determined to utilize blended finance as an innovative financial mechanism to fund its international commitment goals, which are in line with Indonesia’s national priority strategies.
The term blended finance refers to a mixing of public and private funds through a common investment scheme or deal, with each party using its expertise in a complementary way.
Pancasila with its five ideological principles and the 1945 Constitution stipulate the achievement of a just and prosperous society, supported by strong and inclusive economic development, as the basic goal of development.
Economic inclusivity is an important element for peace and prosperity. The Agenda 2030 member states have agreed to work hand in hand in a global partnership to achieve 17 SDGs to end poverty, improve health care and education, protect the environment and reduce inequality, among other aims.
This year, Indonesia became one of only seven countries to submit a voluntary national review. It is a review mechanism to track the progress of SDG.
