"Indonesia is actively seeking to boost private investment to drive economic transformation, enhance domestic and inter-regional connectivity, and integrate into the global value chain. Foreign loans will be utilized to facilitate this development," he stated in a release on Sunday.
He made these remarks during his participation in the World Bank Country Partnership Framework (CPF) Formulation Workshop.
Ruddyard emphasized the importance of synergizing various financing sources, including foreign loans, to meet the funding requirements outlined in the National Medium-Term Development Plan (RPJMN) 2025-2029.
He highlighted that the RPJMN 2025-2029 serves as a crucial foundation for the implementation of the National Long-Term Development Plan (RPJPN) 2025-2045.
This development planning document also provides a vital framework for cooperation between the Indonesian government and its development partners, including the World Bank.
The CPF is regarded as a strategic roadmap, ensuring that World Bank support aligns with Indonesia's development priorities.
"Development partners, including the World Bank, have played a significant role in supporting Indonesia's development goals in recent years. We anticipate that future collaborations will be more agile and robust, addressing increasingly complex challenges," Ruddyard stated.
He underscored the workshop's significance in ensuring the CPF reflects the priorities of both Indonesia and the World Bank.
"I am confident that the CPF will be comprehensive and adaptable. We expect this cooperation to continue to evolve and strengthen in the future," he concluded.
Translator: M Alatas, Kenzu
Editor: Aditya Eko Sigit Wicaksono
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