Indonesian president discusses global financial system reforms with World Bank president  

The World Bank president is expected to be able to create a global financial system that is fairer for all, especially for developing countries.

 

Jakarta (Indonesia Window) –  Indonesian President Joko Widodo met the World Bank president, Ajay Banga, at the Merdeka Palace in capital Jakarta on Monday (Sept. 4), and discussed a number of issues including that on global financial system reforms.

President Widodo said Indonesia and other developing countries hope that the World Bank would be able to realize a fairer financial system.

He believes the World Bank president is aware of various criticisms to this UN international organization, including that from the Secretary General of the United Nations regarding the lack of attention to the interests of developing countries.

“Indonesia and other developing countries have high hopes that you create a global financial system that is fairer for all, especially for developing countries,” he said.

Currently, the situation of global uncertainty affects development in developing countries, said Widodo who saw the need for collaboration among stakeholders to deal with this situation.

“I want to explore the potential for World Bank collaboration with Indonesia and ASEAN (Association of Southeast Asian Nations) to address this challenge,” he added.

On the occasion, President Widodo conveyed Indonesia’s commitment to developing new renewable energy. The Head of State encouraged strengthening commitment to realize financing and investment in the energy transition and green economy.

“We have made various breakthroughs, including the development of new renewable energy and efforts to implement a carbon tax. “However, not all countries can meet their green financing needs,” the president noted.

Editing by Indonesia Window