JAKARTA, KalderaNews.com – The World Bank’s Board of Executive Directors today approved two new projects totaling $700 million to help Indonesia to respond to the Covid-19 pandemic. The financing will help support the country to enhance its social protection system and strengthen the financial sector.
“The Government of Indonesia is cognizant of the significant impact of Covid-19 on the livelihood of so many people in different sectors in the regions all over Indonesia. With support from international institutions such as the World Bank, we are able to provide relief for different needs such as the provision of social assistance and maintaining the resilience of the country’s economy. Support for these sectors provide the necessary foundation which will enable further government actions to ensure the long-term recovery of the people and economy of Indonesia,” said Minister of Finance of the Republic of Indonesia, Sri Mulyani Indrawati.
The first project approved is the $400 million Additional Financing for Social Assistance Reform Program. The initial project approved three years ago has successfully supported the government’s flagship social assistance program—the Family Hope Program or PKH—to expand its coverage from 6 million to 10 million families, and to improve the program’s delivery systems and coordination with other social assistance programs.
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