Gathered at PGII, world leaders discuss it

Jakarta, CNCB Indonesia – The G7 Membership Partnership for Global Infrastructure and Investment (PGII) meeting (US, UK, Italy, Japan, Germany, Canada and France) was held on the sidelines of the Indonesian Presidency High Level Meeting of the G20, Tuesday (15/11) in Bali.

On this occasion, Indonesian President Joko Widodo, US President Joe Biden and European Commission President Ursula Von der Leyen co-hosted a group of leaders from the G20 countries, namely Japan, Germany, Korea South, Senegal, Canada, Argentina, Great Britain and India. . .

This activity is the right time to show commitment to accelerating investment in quality infrastructure in poor and middle-income countries around the world and to strengthening the global economy. During the meeting, Coordinating Minister of Economy Airlangga Hartarto accompanied President Joko Widodo.

As known, PGII was first launched in June 2021 or at the 47th G7 Summit in England. PGII has pledged over the next 5 years to invest US$600 billion in loans and grants for sustainable infrastructure projects for developing countries.

Opening the event, U.S. President Joe Biden outlined PGII’s progress and impact to date, announced new projects, and provided concrete examples of the role of the United States and its partners in working together. to mobilize quality infrastructure capital and sustainable development.

“The U.S. government has officially announced new PGII projects, including the Just Energy Transition Partnership (JETP) which has mobilized $20 billion in public and private sector funding for Indonesia, the Indonesia Millennium Challenge Corporation (MCC ) Compact which successfully launched 698 million “Trilateral support for digital infrastructure through a partnership between Australia and Japan to support digital projects, secure supply chains of critical minerals in Brazil, develop solar power in Honduras and investing in India’s health infrastructure,” Biden said in a press release Wednesday (11/16/2022).

Meanwhile, President Joko Widodo, as host of the G20 summit, said Indonesia always supports boosting infrastructure development in developing countries. The multidimensional crisis the world is currently facing poses its own challenges for infrastructure development in developing countries, including through shrinking fiscal space.

He stressed that the support provided by PGII should be country-focused and based on the real needs of the destination country. In addition, PGII should also make consultation and dialogue with beneficiary countries the main guideline.

“Infrastructure development should empower the local community and economy to have a high sense of belonging, as well as support developing countries to build capacity and self-sufficiency. In this way, developing countries can be more resilient to global challenges in the future,” says Jokowi.

On this occasion, Jokowi also said that PGII’s efforts to support infrastructure development in developing countries must be based on a collaborative paradigm. PGII was asked to involve more stakeholders, including the private sector which is considered to bring real benefits.

In addition, the PGII must also produce support for sustainable development, in particular through green development and energy transition.

Then, the President of the European Commission, Von der Leyen, estimated that the meeting of the PGII on the sidelines of the G20 summit in Bali could determine the world economic situation.

“We believe that partnerships can be a game-changer for two reasons. First, PGII not only invests large amounts of capital in infrastructure, but also invests in the local capacity of our partners,” he said.

Meanwhile, on this occasion, the Coordinating Minister of Airlangga acted as moderator and invited Germany, South Korea, Senegal, Canada, Argentina, Great Britain and India to share their views.

Also present, accompanying President Joko Widodo in the activity, were the Minister of Foreign Affairs and the Ambassador of Indonesia to the United States.

[Gambas:Video CNBC]

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Robert Butler

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