Jakarta (ANTARA) - The policy to develop food security is directed at mitigating the impact of climate change, Finance Minister Sri Mulyani Indrawati has said.

"We think mitigating the impact of climate change is important since it could pose a risk of food price volatility. Therefore, increasing productivity, food sovereignty, and maintaining price stability are important," she explained.

She made the remarks during a plenary meeting with the House of Representatives (DPR) on the Agenda for the Government's Response to the Faction's General View of the 2024 State Budget Bill and Financial Notes, in Jakarta on Tuesday.

Food security development will be directed at providing access and stabilizing food prices through a number of measures, namely increasing domestic production, protecting farming businesses, and accelerating the development and rehabilitation of food infrastructure, the minister added.

Efforts could also be made through the development of food estate areas and strengthening of national food reserves, she added.

Indrawati affirmed that the government is committed to maintaining food security in the future.

This commitment has been reflected in the food security budget allocation of Rp108.8 trillion in the 2024 state budget draft.

The funds will be channeled through central government spending of Rp89.6 trillion and transfers to the regions of Rp19.2 trillion, she informed.

In line with the Indonesian government's commitment, ASEAN has also committed to strengthening financial sector collaboration to boost food security at the regional and global levels.

This commitment was expressed at the Meeting of Finance Ministers and Central Bank Governors (AFMGM) in Jakarta on August 25, 2023.

Indrawati said that collaboration will be strengthened through ASEAN financial processes and other ASEAN sectoral bodies.

Through cross-sectoral collaboration, ASEAN finance ministers and central bank governors are targeting policy improvements to reduce turmoil in food security and increase food availability and affordability to ensure more equitable healthy food access.

Increasing financial access for small and medium enterprises and small farmers, as well as increasing trade facilities to encourage food security in the region are also necessary, the minister added.

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Translator: Imamatul Silfia, Resinta S
Editor: Sri Haryati
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