"In the context of strengthening MSMEs, HLF MSP 2024 will highlight the importance of innovation in overcoming barriers to funding for MSMEs in developing countries," said Bogat Widyatmoko, Deputy for Politics, Law, and Security at the Ministry of National Development Planning, on Sunday.
One initiative on the agenda is the Global Blended Finance Alliance (GBFA)—a collective mechanism designed to provide sustainable and inclusive funding for MSMEs.
Widyatmoko emphasized that this alternative funding mechanism is crucial for achieving the Sustainable Development Goals (SDGs) 2030, increasing investment flows, and bolstering microfinance.
"This mechanism not only helps MSMEs access funding but also strengthens their role in the global supply chain, allowing them to contribute more significantly to the national economy," he explained.
Discussing MSME financing is a key objective of HLF MSP 2024, as it seeks to address the global polycrisis by promoting cross-sector collaboration to bridge the funding gap for MSMEs.
Under the theme "Strengthening Multi-Stakeholder Partnerships for Development: Towards Transformative Change," the forum will facilitate stakeholder collaboration to create innovative solutions and actionable strategies, enabling Global South countries to achieve sustainable progress, Widyatmoko informed.
With 1,275 participants from 55 countries, HLF MSP 2024 reflects a global commitment to tackling economic and development challenges.
It aims to be not only a discussion platform but also a venue for actionable strategies to enhance the role of MSMEs in the global economy through innovative and collaborative approaches.
HLF MSP is an international forum that will bring together various stakeholders from both domestic and international backgrounds. It is also being held in conjunction with the 2nd Indonesia-Africa Forum (IAF).
The meeting will be inaugurated by President Joko Widodo. Several heads of state, including East Timor Prime Minister Xanana Gusmao, Eswatini Prime Minister Russell Mmiso Dlamini, and Zimbabwe Vice President Kembo Mohadi, are expected to attend.
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Translator: Imamatul Silfia, Yashinta Difa
Editor: Tia Mutiasari
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