Indonesia Blue Finance for SGDs Completion

It is essential for a country to imply and committed to achieve sustainable development goals (SDG). In Asian Development Bank (ADB) together Indonesian Coordinating Ministry of Maritime and Investment Affairs tried to work on program called “Blue Finance Accelerator” with observation from United Nations Development Programme (UNDP).

Based on Join SDG Fund (2022) the program aims to provide financial and technical support to small and medium-sized enterprises (SMEs) in the fisheries and marine sectors, with a focus on sustainable practices and conservation efforts. Those selected SMEs will receive training and mentoring on business development and financial management, as well as access to financing options such as loans and equity investments.

To achieve those goals, Indonesia has implemented various policies and programs, such as poverty reduction programs, investment in infrastructure, job creation initiatives, and efforts to promote inclusive economic growth.

As Deputy Cabinet Secretary of Indonesia mention (2020) Indonesia's National Medium-Term Development Plan (RPJMN) for 2020-2024 prioritizes job creation, social protection, and investment in human resources, as well as infrastructure development. Additionally, the government try to make policies in order to gain foreign investment, funding small and medium-sized enterprises, and increase access to financial services for everyone,

Indonesia still faces challenges in achieving the SDGs related to economic development, such as addressing income inequality, reducing poverty, and creating sustainable jobs. However, the government and various stakeholders are working towards these goals through collaboration and concerted efforts.

Reference:

Deputy Cabinet Secretary of Indonesia (2020) Gov’t issues regulation on 2020-2024 National Medium-Term Development Plan, Cabinet Secretariat of The Republic of Indonesia. Available at: https://setkab.go.id/en/govt-issues-regulation-on-2020-2024-national-medium-term-development-plan/ (Accessed: March 11, 2023).

Joint SGD Fund (2022) United Nations fast-tracks Indonesia's Blue Economy Development through the "Blue Finance Accelerator" programme, Joint SDG Fund. Available at: https://jointsdgfund.org/article/united-nations-fast-tracks-indonesias-blue-economy-development-through-blue-finance (Accessed: March 11, 2023).