Jakarta (ANTARA) - Indonesia has urged cooperation in infrastructure and sustainable financing at a recent meeting of the ASEAN Finance Ministers and Central Bank Governors (AFMGM).

Deputy Minister of Finance, Suahasil Nazara, stated that Indonesia is promoting regional initiatives for infrastructure development, including supporting the transformation to digital technology.

“Indonesia’s priority is to encourage infrastructure development, not only to facilitate economic activity during the pandemic, but also to anticipate the shifting modalities in the teaching and learning process through digital platforms,” he said in Jakarta on Monday.

During the meeting, Suahasil said Indonesia is committed to continuing the membership process for the Financial Action Task Force (FATF), which had been delayed due to the pandemic.

He also lauded the progress made by the ASEAN Infrastructure Fund (AIF) through the ASEAN Catalytic Green Finance Facility (ACGF).

According to the deputy minister, ACGF, which has secured funding commitments from development partners of US$1.5 billion, is an important breakthrough for facilitating private involvement in financing green infrastructure in the region.

Funds will be disbursed through the ACGF facility for several strategic projects in several countries, including Indonesia, in the near future, he said.

Indonesia is pushing for sustainable financing in ASEAN because the initiative is seen as one of the engines driving economic recovery in the region, he added.

The potential for developing sustainable financing for ASEAN countries is high, especially in view of the rapid growth of the global sustainable bond market, he pointed out.

Indonesia is among the leading countries in terms of the development of sustainable financing, Sauhasil said, adding one way in which the country has achieved this is through the issuance of green and sustainable bonds worth US$3.4 billion by both the government and corporations.

Meanwhile, Indonesia is also encouraging strengthening of synergies in the development of cooperation in financing in the regions that have received support from other countries.

“It is used as an element of the agreement in the joint statement of the meeting,” Suahasil said. (INE)

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Translator: Astrid F, Azis Kurmala
Editor: Suharto
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