Remarks of President of the Republic of Indonesia During High-level Dialogue on Global Development on the Sidelines of the 14th BRICS Summit, June 24, 2022

Your Excellencies,

The world is facing formidable challenges in food security, energy security and the increasingly difficult financial stability.

Global economic growth this year has also dropped by 1 percent to 2.6 percent with the achievement of the SDGs being significantly delayed.

We must take action now to prevent a lost decade for development. For that reason, we must take these three steps together.

First, it is synergy to overcome emerging challenges. As President of the G20 and part of the Global Crisis Response Group, Indonesia will continue to contribute to addressing the issues of food and energy security and financial stability.

I noted many other initiatives from various parties. These existing initiatives must remain in synergy and strengthen each other, take into account the voices of developing countries, and prioritize dialogue.

Second, we must strengthen global SDG partnerships with a focus on development funding. The SDGs funding gap which increased from US$2.5 trillion per year before the pandemic to US$4.2 trillion per year after the pandemic must be closed immediately.

Innovative funding must be promoted and the role of the private sector must be strengthened. BRICS countries must serve as a catalyst for strengthening investment in developing countries

Similar efforts are also being made by the G20 Indonesia Presidency. We encourage investment that creates added value for developing countries. I also hope that the Global Development Initiative (GDI) can be a catalyst for achieving the SDGs. I encourage the synchronization of GDI with the ASEAN Outlook on the Indo-Pacific where the element of achieving the SDGs is one of the spirits and priorities of cooperation.

Third, new sources of growth must be strengthened. BRICS cooperation with partner countries must support inclusive digital transformation and development of green industries and infrastructure, as well as strengthen access of developing countries to global supply chains

Your Excellencies,

As a closing note, I am inviting all of us to work together, to recover together, recover stronger.

I thank you.

(FI/EP)