The World Bank's Board of Executive Directors approved the new Country Partnership Framework (CPF) with Indonesia for the period 2021-2025. The overarching objective of the new framework is to increase efforts to recover the economy due to Covid-19 and to promote sustainable and inclusive growth in the future.
"Through this framework, the World Bank Group will continue its partnership with Indonesia by supporting efforts to recover from the impact of the pandemic while moving closer to its goals of achieving inclusive growth, building a resilient middle class, and then joining high-income countries," explained the Vice President of the World Bank for East Asia and the Pacific Victoria Kwakwa in a written statement, Wednesday (12/5/2021).
The new CPF is set up in the shadow of an ongoing pandemic, which has not only claimed significant casualties, but has also caused serious economic repercussions for the country. Designed in line with the National Medium-Term Development Plan (RPJMN), the new CPF focuses on four areas of cooperation: strengthening economic competitiveness and resilience, enhancing infrastructure, developing human capital, and supporting the management of natural assets, resource-based livelihoods. nature, and resilience to disasters.
As a result of the pandemic, the government has shifted its focus to strengthening policies and institutions, especially in the health, social protection, education and digitalization sectors. Particularly in the digital aspect, CPF is aimed at improving the level of efficiency and inclusion by increasing various services and overcoming the digital divide.
"The private sector plays an important role in generating economic growth, where the leadership of the International Finance Corporation (IFC) in developing sustainable and inclusive opportunities as well as in mobilizing more private investment will be critical to recovery efforts in our client countries. IFC Asia and Pacific Vice President Alfonso Garcia Mora.
In addition, in line with the spirit of the CPF, his party will also continue to focus on encouraging financial inclusion through our work related to digitization or continuation of cooperation with MSMEs and providing technical assistance to modernize capital market infrastructure.
Multiple Approaches
Through leveraging lessons learned from various government programs to date and adapting strategies to strengthen responses to uncertainty caused by the pandemic, the CPF is based on an overarching framework for a five year period involving multiple approaches to be applied during the first three years of the framework period.
“During this year and next, the World Bank will focus its efforts on helping ensure a sustainable recovery from the pandemic, including supporting needed economic reforms, increasing income, and reinvigorating efforts in the areas of climate change, digitization and gender equality. "Explained the Director of the World Bank for Indonesia and Timor-Leste. One Kahkonen.
He added that his party is committed to continuing support to the Indonesian government on these cross-sectoral themes and also on poverty eradication efforts to support Indonesia to become more prosperous.
The development of the new CPF involved virtual consultations with governments, development partners, civil society organizations and the private sector. One of the main outcomes of the series of consultations was stakeholder agreement on the overall impact of climate change on the country and beyond, as well as encouragement for the World Bank Group to continue its support for Indonesia in facing various challenges related to the environment and climate.
Source : https://investor.id/business/bank-dunia-setujui-kerangka-kerja-kemitraan-baru-dengan-indonesia
