WB helps Indonesia achieve more resilient financial sector
The World Bank’s Board of Executive Directors has approved a loan of 400 million USD to support reforms that will help the Government of Indonesia increase the depth, improve the efficiency, and strengthen the resilience of the financial sector.
A street in Jakarta, Indonesia (Photo: Xinhua/VNA)
Jakarta (VNA) – The World Bank’s Board ofExecutive Directors has approved a loan of 400 million USD to support reformsthat will help the Government of Indonesia increase the depth, improve theefficiency, and strengthen the resilience of the financial sector.
The bank said the COVID-19 pandemic has causedrecession in Indonesia, with potentially long-lasting financial, fiscal, andsocial implications. While the banking system is well-capitalised andprofitability is high, the lack of depth in the Indonesian financial marketsincreases the country’s vulnerability to external shocks.
The new financing is designed to help the countryaddress financial sector vulnerabilities heightened by the pandemic. It does sothrough support to measures such as extending financial services to previouslyunderserved groups, reducing the costs of such services for individuals andbusinesses alike, and strengthening the capacity of the financial sector towithstand financial and non-financial shocks.
The Government of Indonesia is committed tostrengthening the financial sector given its critical role in sustainingIndonesia’s growth and in reducing poverty, especially during the COVID-19recovery phase, said Minister of Finance Sri Mulyani Indrawati.
This financing complements the government’s efforts tocushion the financial sector and the overall economy from the impacts of theCOVID-19 crisis, said Satu Kahkonen, World Bank Country Director for Indonesiaand Timor-Leste.
The bank’s support to financial sector reforms inIndonesia is an important component of the World Bank Group’s CountryPartnership Framework for Indonesia, whose engagement area on strengtheningeconomic resilience and competitiveness contains a specific objective focusedon increasing the depth, improving the efficiency and strengthening theresilience of the financial sector.
The new financing is also based on theWorld Bank Group’s GRID (green, resilient, inclusive development) principles./.
Indonesian President Joko Widodo is optimistic that the light rail transit (LRT) trains produced by state-owned PT INKA (Persero) can be exported to other countries.
Indonesia’s Maritime Affairs and Fisheries Ministry (KKP) has said it will develop environmentally friendly fishing ports in the country in cooperation with the French Development Agency (AFD).
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
A street in Jakarta, Indonesia (Photo: Xinhua/VNA) 
