Jakarta–Detakpos.com-Ministers of National Development Planning, attending the G20 Development Ministerial Meeting, held at Palazzo Lanfranchi Italy, Tuesday (29/06/2021).
One of the things the Minister conveyed in his speech included, the pandemic creates a scissor effect of financing for SDGs, especially in developing countries. The need for expenditure is increasing, but the resources are declining.
“We are potentially facing another lost decade of sustainable development achievements. Our discussion on Financing for Sustainable Development is useful to address this issue,” said the Minister.
On the occasion, the Minister also gave an example of 2 sources of financing, namely INFF and Sustainability-linked financial instruments.
Integrated National Financing Framework (INFF) is a tool initiated by the United Nations to map financing sources to develop development strategies and operationalize SDGs at the country level. INFF has started to be operationalized in more than 70 countries and Indonesia is one of 16 other pilot countries, such as Bangladesh, Ghana, Nigeria, and Vietnam
Sustainability-linked financial instrument is an innovative financing instrument that is linked and supports the achievement of sustainability indicators related to social, economic and environmental aspects.
The Minister also said that G20 Development Working Group under the Italian Presidency is consistently putting SDGs as the centrality of our agenda. This year’s priority on SDGs localization has also become the highlights of SDGs implementation in Indonesia.
In Indonesia, implementing national development plan means implementing SDGs; as SDGs are mainstreamed into National Medium-Term Development Plan. Meanwhile, Indonesia SDGs Roadmap complement this efforts by providing elaboration on SDG targets, indicators, interlinkages, and the funding strategies
“Feeding two birds with one scone . Both of our priority issues are interconnected. Our political commitment here will create a milestone in addressing the financing gap for sustainable development and in achieving the localizing SDGs,” Minister said.
Before closing his speech, the Minister convey that the pandemic is not yet over. All countries, particularly developing countries, are still suffering from the impacts. G20 should keep our works in addressing the COVID-19 pandemic at the heart of its agenda.
“I sincerely hope that we can move forward with stronger cooperation and partnership on this recovery, for a better and more resilient future,” closed the Minister.(HMS)
Editor: A Adib
