Jokowi: Four Solid Results from G20 Summit

Francisca Christy Rosana writing for Tempo is reporting that Indonesia’s President Joko Widodo or Jokowi announced there are four solid results from the G20 Summit in Bali, November 15-16, and its benefits for the country.

First, he said Indonesia’s G20 Presidency resulted in the pandemic reserve. “A pandemic fund of USD 1.5-billion has been formed,” the President said at Bali Nusa Dua Convention Center, Wednesday, November 16.

According to Jokowi, the fund will be a catalyst to mobilize other funding for the health sector that comes from different sources, say Tempo.

The G20 Joint Finance and Health Ministers Meeting pinpointed that the world needs more than USD 10-billion per year to deal with the threat of a pandemic crisis in the future.

Secondly, the establishment of a Resilience and Sustainability Trust (RST) by the International Monetary Fund (IMF) totalling USD 81.6-billion to help countries that are vulnerable to crises.

Thirdly, through the Bali summit, the United States and its allies agreed to raise USD 20-billion through the Just Energy Transition Partnership (JETP) to support Indonesia’s energy transition program.

The funds were generated by the G7+ led by the United States and Japan. In detail, USD 10-billion came from the International Partner Group (IPG) and USD 10-billion from the Glasgow Financial Alliance for Net Zero (GFANZ).

The last result was that G20 member countries committed to reducing land degradation by up to 50-percent voluntarily, report Tempo.

All members of the G20 also approved a Leaders’ Declaration at today’s summit. President Jokowi said the declaration which consists of 52-points in 14-pages is the first that has been achieved since February 2022.

Source: Tempo

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