The cooperation between Indonesia and ADB has currently reached US$4.1 billion

Jakarta ( – The Minister of Finance (Menkeu) Sri Mulyani revealed that the Asian Development Bank (ADB) cooperation with Indonesia that is currently underway is valued at around US$4.1 billion, spread across various development sectors.

One of the results of cooperation between Indonesia and ADB is support for programs to increase human resources in the form of education and skills training activities, development of employment opportunities for young people, and reduction of child malnutrition rates (stunting).

In an official statement in Jakarta, Monday, he said that the ADB is also assisting in the development of human resources in rural areas with a focus on empowering smallholder farmers and fish farmers.

As ADB’s sixth largest shareholder, Indonesia actively voices the interests of developing countries in general and Indonesia’s national interests, particularly through attendance at the 56th ADB Annual Session.

It is in Indonesia’s interest that current ADB programs and their reform directions are placed within the framework of strengthening partnerships with beneficiary countries, which allows program planning based on the needs and characteristics of each country, as well as being responsive to global challenges.

On the other hand, Sri Mulyani said Indonesia encouraged ADB to continue to increase support for various recovery efforts and to increase the resilience of countries in the region, as well as for island countries in the Pacific.

For this reason, Indonesia encourages ADB to continue its reform agenda to increase its capacity to provide better and more effective services to its member countries.

Furthermore, he also voiced the importance of the Multinational Development Bank (Multinational Development Banks/MDBs) like ADB to further enhance its capacity to provide support to member countries in need, amidst the current increasingly challenging and uncertain economic conditions.

With the theme “Rebounding Asia: Recover, Reconnect, and Reform“, The 56th ADB Annual Session aims to promote recovery in the Asia Pacific region through strengthening cooperation between countries and ADB reforms.

Sri Mulyani acting as Governor of ADB along with staff attended the meeting which was held on 2-5 May 2023 in Incheon, South Korea.

This meeting was chaired by Deputy Prime Minister & Minister of Finance and Economy of South Korea Choo Kyungho who represented the host and was attended by finance ministers from ADB member countries.

The ADB Annual Session was opened by South Korean President Yoon Seuk Yeul. In his remarks, President Yoon said that as a key partner with world-class production capabilities and production capacity for semiconductor, rechargeable battery, and bio-industry, South Korea will actively participate in forming supply chains in cooperation with Asian countries.

South Korea hopes that ADB will create a new modality that focuses on solidarity and cooperation between countries in the region. In this regard, South Korea’s support of ADB financially and intellectually will continue.

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Also read: Sri Mulyani attended the 56th Annual Meeting of the ADB Board of Governors
Also read: Indonesian Minister of Finance meets Korean Minister to discuss economic development of the two countries

Reporter: Agatha Olivia Victoria
Editor: Faisal Yunianto


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