Results of the G20 Summit, Indonesia Receives Sweet Promise of US$ 1 Trillion

Indonesia has successfully held the G20 Summit in Bali on 15-16 November 2022. A number of compliments from world leaders were also expressed for Indonesia, which succeeded in holding this grand world-level event.

Indonesia has received funding commitments of up to US$ 929.4 billion for a number of infrastructure projects up to the energy transition. Indonesian President Joko Widodo also detailed the amount of the funding commitment, including at least 226 multilateral projects with a value of US$ 238 billion and 140 bilateral projects with a value of US$ 71.4 billion which need to be followed up immediately.

“This must be ensured that all of these projects, programs and initiatives can be executed quickly,” said Jokowi while chairing a limited meeting on evaluating the implementation of the G20 Summit which was held at the Presidential Office, Jakarta, Monday, November 28, 2022.

The President also asked his staff to oversee the acceleration of various investment commitments so that they can be realized in the field. A number of these investment commitments include commitments from the United States government through the Partnership for Global Infrastructure Investment scheme of US$ 600 billion. US$ 20 billion for the development of fossil-based electric vehicles through the Just Energy Transition Partnership. Investment commitments from Japan, UK and South Korea for the Jakarta MRT, as well as cooperation with Turkey for the construction of the Trans-Sumatra toll road and others.

November 29, 2022, CNBC Indonesia