This new partnership strategy reflects the ADB's strong commitment to helping Indonesia boost human development, improve economic competitiveness, answer disaster risks, and (support a) sustainable environment amid economic uncertainty and rising thrJakarta (ANTARA) - The Asian Development Bank (ADB) will provide a host of financial supports and solutions through the operation of government and private sectors as part of its 2020-2034 partnership strategy for Indonesia.
Under the strategy, ADB's loans to the Indonesian government are projected to reach US$10.7 billion in 2020-2023.
The strategy also aims to provide technical knowledge for investment catalyzation, support sustainable development, and help Indonesia rise up more strongly in the wake of the COVID-19 pandemic, ADB president Masatsugu Asakawa said in a statement released in Jakarta on Wednesday.
“This new partnership strategy reflects the ADB's strong commitment to helping Indonesia boost human development, improve economic competitiveness, answer disaster risks and (support a) sustainable environment, amid economic uncertainty and rising threats of climate change,” he remarked.
He assured that ADB's strategy for the next five years will support the development of an inclusive and competitive economy in Indonesia by focusing on people's welfare, competitive economy, and the environment, while at the same time, helping develop resilience to climate and disaster risks.
To that end, ADB is committed to helping the development of a sustainable economy in Indonesia, including supporting recovery from the pandemic, through a combination of knowledge, technical assistance, and financial support, he said.
The Manila-based bank will also help Indonesia strengthen health services, expand social protection, improve the quality of education, develop workers’ skills, face climate change, and strengthen resilience to natural disasters and pandemic, Asakawa said.
“The strategy gives ADB a flexible and agile frame(work) to help Indonesia enter green recovery, share other options for sustainable development, and strengthen the mobilization of domestic resources to support recovery efforts,” he said.
Indonesian Finance Minister Sri Mulyani Indrawati welcomed ADB's support and said the strategy is relevant to the country's mid-term national development plan 2020-2024, the UN Sustainable Development Goals (SDGs), and the ADB’s corporate strategy (Strategy 2030).
“We highly appreciate ADB's strong support for Indonesia that has lasted for quite a long time, particularly ADB's quick response, close, and active communication with the government during the COVID-19 pandemic,” she remarked.
The minister said the partnership strategy has made ADB an important partner in designing innovative solutions to complex development challenges as well as to bring about inclusive, competitive, and sustainable development.
As part of the strategy, ADB Operation will also mobilize joint funding from development and investment partners in the private sector in response to a rise in financing needs during the COVID-19 pandemic.
For instance, ADB will help Indonesia attract more private investment in the infrastructure field through wider public private partnership (PPP). It will also help Indonesia achieve SDGs through innovative financing options to curtail the risk of green infrastructure projects and to serve as a catalyst for private investment. (INE)
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Editor: Fardah Assegaf
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