WASHINGTON, April 13, 2023 – Today, World Bank Group President David Malpass met with Sri Mulyani Indrawati, Minister of Finance of Indonesia.
President Malpass welcomed Indonesia’s robust growth performance in FY22 and successful fiscal consolidation and congratulated Minister Mulyani on the Financial Sector Omnibus Law, which will facilitate a deeper, more efficient, and more resilient financial sector. President Malpass thanked Minister Mulyani for the strong partnership of Indonesia and the World Bank Group. The World Bank’s Indonesia portfolio is the largest in the East Asia and Pacific region, with 41 operations under implementation amounting to $8.8 billion.
President Malpass appreciated Indonesia’s preparations to implement significant reforms spanning fiscal, health, and climate policies. President Malpass expressed satisfaction with the WBG Board's approval of the $1 billion Third Financial Sector Reform Development Policy Loan (DPL) on March 28, 2023, and commended the multi-year open dialogue that benefited from World Bank advice.
President Malpass and Minister Mulyani discussed challenges in agriculture and energy for the huge Indonesia archipelago and efforts to align incentives on nutrition and subsidies, and crop diversification. President Malpass asked Minister Mulyani’s view on Indonesia’s energy transition plans and sought an update on possible pathways to reduced greenhouse gas emissions and in conjunction with high rates of electricity access. President Malpass and Minister Mulyani also discussed Indonesia’s ASEAN Chairmanship, welcoming its focus on regional growth.