Director General of Infrastructure Financing at the Ministry of Public Works and Housing (PUPR) Triono Junoasmono made this statement on Wednesday.
“This fund will mobilize financial resources from various sectors,” he remarked, adding that these include development financial institutions, the private sector, international organizations, and philanthropy.
The primary focus of the GWF is to provide financing for initial investments, rehabilitation, and reconstruction of water resource infrastructure affected by disasters.
The Ministry of PUPR is currently assessing GWF's initial structure and its development plan, with the target of declaring it at the 11th World Water Forum in Saudi Arabia in 2027.
To ensure effective governance, the GWF will operate through an organizational structure comprising a governing board, secretariat, technical advisory panel, and trustee.
Related news: Many countries keen to create Global Water Fund: official
The government also encourages private sector involvement and strategic measures to ensure the success of this funding initiative.
The GWF is expected to contribute to improved water resource management, sustainable financing, global collaboration, and adaptation to climate change.
As a pioneer of the GWF, Indonesia aims to garner international support through political processes, Junoasmono stated.
The Ministry of PUPR proposed the establishment of the GWF during the 10th World Water Forum in Bali in May.
Several countries participating in the forum expressed interest in realizing this initiative that aligns with Indonesia’s commitment to the Sustainable Development Goals (SDGs).
Related news: Examining chances for establishing a Global Water Fund in future
Translator: Aji Cakti, Anton Santoso
Editor: Yuni Arisandy Sinaga
Copyright © ANTARA 2024
