Indonesia launches "APEC Impact Fund" to encourage MSMEsdevelopment

Indonesia launches "APEC Impact Fund" to encourage MSMEsdevelopment

"I had previously also pointed to the aspect of 'blended finance,' so we can collaborate with other 'multilateral agencies' and nations that have (funding) development. Hence, it is not merely us alone," he said.
Jakarta (ANTARA) - Indonesia launched the APEC Impact Fund to facilitate the development of micro, small, and medium enterprises (MSMEs) at the senior Asia-Pacific business leaders (APEC Business Advisory Council/ABAC) meeting in Jakarta, on April 23-26, 2019.

ABAC Indonesia member Shinta W. Kamdani remarked at a press conference in Jakarta on Friday that the MSMEs sector had been continually propelled by its inclusive economy.

"Hence, we began with a platform. ABAC has in place a B-to-B platform through a 'marketplace' for MSMEs. Secondly, MSME skills can thereafter be improved in line with other nations and thirdly their 'funding,'" he noted.

Kamdani stated that the funding was not solely channeled for MSMEs for developing their businesses but also focused on positively impacting the social community.

"This is yet in the nascent stage, and Indonesia has initiated it for the foremost time. This was the topic of discussion yesterday. The subsequent ABAC meeting in China will bear witness to in-depth discussions on its structure, participation, and support from other nations, with the launch in next November at ABAC Chile," he elaborated.

Kamdani remarked that the launch is estimated to garner support of APEC, developing, and developed nations.

Kamdani believes the support is estimated to create an alternative funding method termed "blended finance," so as to not overburden Indonesia.

"I had previously also pointed to the aspect of 'blended finance,' so we can collaborate with other 'multilateral agencies' and nations that have (funding) development. Hence, it is not merely us alone," he added.  

   

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