Minister of Finance Sri Mulyani stated during the G20 Digital Transformation: Resilient MSMEs for Global Economic Recovery virtual talk show on Thursday (June 30, 2022). (ANTARA/Agatha Olivia/FR)
This is because we want to ensure that the 'recover together and recover stronger' theme not only occurs between countries but also within these countries.Global partnership for financial inclusion became one of the most important agendas under Indonesia's G20 Presidency in the finance track, Minister of Finance Sri Mulyani stated at a virtual talk show on Thursday.
"This is because we want to ensure that the 'recover together and recover stronger' theme not only occurs between countries but also within these countries," she noted.
G20 is an international forum comprising 19 countries and the European Union that work together to handle major issues. Indonesia is holding presidency of the grouping this year.
During the G20 Digital Transformation: Resilient MSMEs for Global Economic Recovery virtual talk show, she stated that the COVID-19 pandemic had left a deep scarring effect on several sectors that can actually be bolstered.
Hence, within that context, Indonesia's G20 Presidency provides global partnership for financial inclusion as an activity related to infrastructure, such as compatible regulation and payment system between countries.
This will allow financial institutions and small and medium enterprises (SMEs) to have access, especially to the capital and market.
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In addition, Indonesia's G20 Presidency provides several other activities related to financial literacy and activities that create a supply chain from many major, medium, and small companies, Indrawati stated.
"This activity will then allow them to have the capability to gain profit from the global supply chain," she explained.
Nonetheless, the minister fully understands that there will be serious disruption to the global supply chain as a result of the current geopolitical situation.
To this end, the Indonesian government will combine digital technologies.
This will allow several SMEs to participate in their activities at the local and global levels that will provide a market platform.
The former managing director of World Bank also noted that the government will provide access to very important capital for several SMEs, wherein Indonesia provides the ultra-micro financing system to SMEs.
"This is provided by all economic policies from the credit side," she remarked.
Related news: Financial inclusion as RI's economic recovery strategy: Minister
