G20 Bali Global Blended Finance Alliance (GBFA) - Cherie Nursalim update
On May 20, 2024, nine countries signed the Letter of Intent as founding member states to set up the G20 Bali GBFA around the 10th World Water Forum. The founding member countries are Canada, the Democratic Republic of Congo, Fiji, France, Kenya, Luxembourg, Sri Lanka, UAE, and host country Indonesia. The landmark proceeding is captured in this documentation link. This was followed by the unveiling ceremony of the GBFA Secretariat located at the Sanur Bali Special Economic Zone the following day.
The GBFA Secretariat will be led by Mari Pangestu, Special Presidential Envoy on Climate Finance under the coordination of the Coordinating Ministry of Maritime and Investment. The Secretariat with member countries will lay the groundwork to develop a fit-for-purpose international organization engaging with a global community of stakeholders. It will work on the premise of the G20 Blended Finance Principles to leverage blended finance to accelerate investment for green transition and climate action for developing countries and the Archipelagic States, including enhancing South-South cooperation.
More details are here: G20 Bali Global Blended Finance Alliance | Tri Hita Karana Forum (thkforum.org).
Link to the event recording: Launching Secretariat, Signing LoI, HL Roundtable “GBFA for Global South Collaboration”.