Indonesia will initiate the establishment of the Global Blended Finance Association (GBFA) secretariat at the World Water Forum 2024, scheduled to be held in Bali from May 18 to 25, 2024. The GBFA secretariat is formed to promote the application of Blended Finance in climate mitigation projects, including water management projects. The formation of the GBFA secretariat, as stated by the Deputy of the Ministry of Environment and Forestry Coordination, Ministry of Maritime Affairs and Investment Coordination, Nani Herdiarti, in Jakarta on May 7, 2024, is crucial to ensure funding for climate change mitigation projects.

According to Herdiarti, blended finance is greatly needed by developing countries to cover the financing burden of climate change mitigation that cannot be solely covered by the state budget. She mentioned, "Indonesia's initiation of the GBFA will feature a special round table to be held on May 20, 2024. During this occasion, Indonesia will announce the establishment of the GBFA secretariat”. Indonesia will host the 10th World Water Forum this year under the theme "Water for Shared Prosperity." The world's largest water forum will bring together stakeholders to develop long-term plans to address global challenges in water resources.
 
Source: https://m.antaranews.com/video/4093620/indonesia-dorong-pembiayaan-campuran-di-world-water-forum-2024?utm_source=antaranews&utm_medium=mobile&utm_campaign=latest_category