Jakarta, CNBC Indonesia – Developed country members of the Global Partnership for Infrastructure and Investment (PGII) allocate funds for infrastructure development. Funds in the form of grants and loans amounting to 600 billion US dollars (9,351 billion rupees) can be used by developing and poor countries over the next five years.
“Infrastructure development should empower local people and the economy to have a strong sense of place. In order for developing countries to be more resilient to global challenges in the future,” the President said. of the Republic of Indonesia, Joko Widodo (Jokowi), as the Indonesian G20 Presidency on Tuesday (15/11/2019) 2022).
For the record, the PGII is a collaborative effort of the G7 countries, namely the United States, Great Britain, Italy, Japan, Germany, Canada and France, which was formed in June 2021 at the 47th G7 summit in England.
The fund allocation is intended to support the financing of new PGII projects, including the US$20 billion Just Energy Transition Partnership (JETP) for Indonesia, the 698 billion Indonesia Millennium Challenge Corporation (MCC) Compact million US dollars, Trilateral Support for Digital Infrastructure through a partnership between Australia and Japan for digital projects, securing supply chains of critical minerals in Brazil, developing solar energy in Honduras and investment in health infrastructure for India.
Jokowi pointed out that IIMP to support infrastructure development in developing countries must be based on a collaborative paradigm. Involve more players, including the private sector, generate sustainable development and support the energy transition.
The ability of developing and poor countries to build infrastructure in the midst of a multidimensional global crisis is a challenge for fiscal policy. At the heads of state meeting in Bali, Indonesia consistently raised a number of issues to support the economic recovery of developing and poor countries. Debt restructuring and infrastructure development for developing and poor countries are top concerns for Indonesia during the G20 Presidency in 2022.
“The PGII is not only investing in infrastructure development, but we are also investing in the local capacity of our partners,” said European Commission President Ursula Gertrud von der Leyen, who attended the PGII meeting. on the sidelines of the G20 summit (summit) in Bali.
next article
Super tight! Here are RI’s preparations to welcome Biden Cs Landing in Bali
(miq/cha)
“Freelance communicator. Hardcore web practitioner. Entrepreneur. Total student. Beer ninja.”
