Jakarta, Indonesia – 25 November, 2024:  25 November 2024 marked another milestone of close collaboration between the Government of Indonesia and OECD. In the MoU Signing Ceremony, OECD became the strategic Knowledge Partner of the G20 Bali Global Blended Finance Alliance represented by H.E. Mari Elka Pangestu, Presidential Special Envoy for International Trade and Multilateral Cooperation and Mathias Cormann, Secretary General of OECD.  

The OECD is proud to partner with the G20 Bali Global Blended Finance Alliance (G20 Bali GBFA) taking forward Indonesia’s G20 Presidency’s legacy for which OECD had played an important role. For over a decade the OECD has worked together with Indonesia and partner countries to advance blended finance efforts both through the G20 and through other key global fora. The OECD has been a founding partner in the set up and implementation of President Joko Widodo‘s Tri Hita Karana Blended Finance Roadmap. OECD initiatives, including the Scaling Up Blended Finance in Developing Countries report, the Blended Finance Guidance for Clean Energy, and the OECD Clean Energy Financing and Investment Mobilisation (CEFIM) programme have been instrumental in mobilising additional capital for sustainable development and the clean energy transition. 

The #TriHitaKarana Roadmap for Blended Finance began as a multi-stakeholder, international framework for mobilising additional commercial capital towards the SDGs launched in 2018. The collaboration continued in the context of Indonesia’s G20 presidency in 2022, to which the OECD contributed with a stocktake report (https://lnkd.in/dDePJZHm). 

For blended finance to live up to its potential, OECD has developed and built upon existing sets of principles such as OECD Blended Finance Principles (https://lnkd.in/dxiEK-ZH) and accompanying Guidance (https://lnkd.in/dy7U7C2m) to facilitate more action and stronger co-ordination on different instruments and best practices. The OECD-G20 Bali GBFA collaboration represents a significant step forward in advancing the global blended finance landscape.

As the new international organisation, the G20 Bali GBFA aims to unlock investments by scaling blended finance schemes to achieve climate actions and the SDGs for developing countries and to facilitate South South cooperation. The G20 Bali GBFA is essential for sharing knowledge and best practices, and furthering the G20 Blended Finance Principles. 

The Knowledge Partner signing ceremony was witnessed by H.E. Luhut B. Pandjaitan, Chairman of Indonesia National Economic Council, with esteemed presence of H.E. Nani Hendiarti, Deputy Coordinating Minister Coordinating Ministry of Food Affairs; senior Indonesia government officials from the Coordinating Ministry of Economic Affairs, Ministry of Finance, Ministry of Foreign Affairs, Ministry of National Development and Planning; H.E. Ina Lepel, German Ambassador to Indonesia; Mrs. Shaima Salem Alhebsi, Deputy Head of Mission of the UAE Embassy; Kevin Tolkar, Head of Development Cooperation, Canada; Andreas Schaal, Director for OECD Global Relations and Co-operation/ OECD Sherpa to the G7, the G20 and APEC; Massimo Grosso Head of OECD Indonesia, and senior representatives from the Fiji Embassy and UNDP.

Source: Internal correspondence of the Coordinating Ministry for Food Affairs, Deputy Coordinating Minister for Food Affordability and Security; https://www.linkedin.com/posts/andreas-schaal-254a2362_g20-bali-global-blended-finance-alliance-activity-7245816033905643521-mbX5; https://www.linkedin.com/posts/hajeschutte_blendedfinance-trihitakarana-activity-7266851865777111040-3tY4