A large crowd of vehicles passes past the MRT North-South (NS) Phase 2A construction site in Jakarta on Wednesday, 28 August 2024. Deputy for Politics, Law, Defense, and Security at the Ministry of National Development Planning/National Development Planning Agency (PPN/Bappenas), Bogat Widyatmoko, emphasized that the High-Level Forum on Multi-Stakeholder Partnership (HLF MSP) 2024 on 1—3 September 2024 in Bali, with the theme “Strengthening Multi-Stakeholder Partnerships for Development: Towards a Transformative Change,” is intended to formulate innovative solutions and cross-sector collaborations to address disparities in development funding between developed and developing countries. (ANTARA FOTO/Asprilla Dwi Adha/YU)

Badung, 1 September 2024 — Indonesia initiated the High-Level Forum on Multi-Stakeholder Partnership (HLF MSP) 2024 in Bali on 1 – 3 September 2024 to invite the world to jointly address the polycrisis challenges facing the globe. This involves efforts to strengthen cross-sector collaboration to overcome disparities in development funding, particularly for Micro, Small, and Medium Enterprises (MSMEs).

Bogat Widyatmoko, Deputy for Politics, Law, Defense, and Security at the Ministry of National Development Planning/National Development Planning Agency (PPN/Bappenas), made the statement on Sunday, 1 September, in Nusa Dua, Bali.

“Carrying the theme ‘Strengthening Multi-Stakeholder Partnerships for Development: Towards a Transformative Change,’ this forum will facilitate all stakeholders in creating innovative solutions and concrete actions, enabling Global South countries to achieve sustainable progress,” said Bogat.

A Micro, Small, and Medium Enterprise (MSME) artisan completes the weaving of traditional Acehnese motif at the production site in Lamgugob Village, Banda Aceh, Aceh, on Monday, 22 July 2024. Home-based businesses and MSMEs have begun to increase their craft production by up to 80 percent to showcase their products during the PON XXI Aceh-Sumut event in early September. (ANTARA FOTO/Irwansyah Putra/Spt.)

In the context of strengthening MSMEs, the HLF MSP 2024 will highlight the importance of innovation in eliminating barriers to financing access for MSMEs in developing countries.

One initiative that will be discussed is the Global Blended Finance Alliance (GBFA), a collective mechanism that aims to provide sustainable and inclusive financing for MSMEs.

Bogat added that this alternative financing mechanism is critical for achieving the Sustainable Development Goals (SDGs) 2030, boosting inbound-outbound investments, and strengthening microfinance.

“This mechanism not only facilitates the access of financing to MSMEs but also enhances their participation in the global supply chain, thereby allowing them to make a more substantial contribution to the national economy,” Deputy Bogat continued.

Deputy for Politics, Law, Defense, and Security at the Ministry of National Development Planning/National Development Planning Agency (PPN/Bappenas), Bogat Widyatmoko, states that Indonesia initiated the High-Level Forum on Multi-Stakeholder Partnership (HLF MSP) 2024 on  1—3 September 2024, in Bali as an effort to invite the world to address the global polycrisis challenges collectively. (Photo: Bappenas/Elvira)

As an international forum, the HLF MSP 2024 has attracted 1,275 attendees from 55 countries, reflecting a global commitment to collaborating to address economic and development challenges. Additionally, Deputy Bogat assured that the Indonesian government had implemented stringent measures to prevent the transmission of MPOX during the event.

“As of today, our preparations have reached 90 percent, and we are confident that our measures to mitigate MPOX will be effective due to the close cooperation between participating countries and relevant ministries, particularly the Ministry of Health, which strictly implements WHO standards,” Deputy Bogat concluded.

The HLF MSP 2024 is not merely a platform for discussion; it is also a forum for taking concrete actions to strengthen the role of MSMEs in the global economy through innovative and collaborative approaches (Bappenas/TR/Elvira Inda Sari/WW/SC).

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For more information, please contact:

Head of the Public Relations, Archives, and Executive Administration Bureau at the Ministry of National Development Planning (PPN/Bappenas), Ardian Budhi Nugroho (082124150454).

Get more information at https://infopublik.id/kategori/hlf-msp-iaf and https://media.msp-iaf.id/.