Inauguration Of The UNDP Innovative Financing Lab In Indonesia: A Country Platform For The Sustainable Development Goals
Jakarta, September 26th, 2018 –
In September 2015 at the United Nations, all countries adopted 17 Sustainable Development Goals (SDGs) to be achieved by 2030. Since then, Governments, civil society, the private sector, international organizations and other actors have been working in partnerships towards those 17 Goals. However, achieving the SDGs will require sizable funding from both the public and the private sector, including investments. Leveraging new funding and exploring new financial instruments such as blended finance is therefore crucial, particularly in countries like Indonesia where there is significant potential to unlock innovative finance for development.
To help close the financing gap that exists, the United Nations Development Programme (UNDP) In Indonesia is establishing the “Innovative Financing Lab”, as a new country platform for the SDGs based. This Lab will operate as a collaborative space for Government, the private sector, investors and entrepreneurs, religious organizations, civil society, the United Nations and other interested partners. It will map and analyze financing gaps and opportunities, co-design and test new financing solutions, help align investments with SDGs measuring progress and evaluating impact.
The “Innovative Financing Lab” was formally inaugurated in Jakarta on 26th September 2018 by Mr. Bambang Brodjonegoro, Minister of National Planning Development of Republic of Indonesia, Ms. Shinta Kamdani, CEO of Sintesa Group, and Mr. Christophe Bahuet, Country Director of UNDP in Indonesia, in presence of many representatives from the Government, the business sector and the international community. “Innovative financing is the key to achieve the SDGs. By establishing the Lab in Indonesia, UNDP together with many partners wants to help design new financial instruments for projects that will improve the people’s lives and protect the planet”, said Mr. Christophe Bahuet. While Mr. Brodjonegoro explained “No one left behind does not only apply to beneficiaries, it also applies to everyone else, to contribute in any way they can to the achievement of the SDGs.”
Started in 2016, UNDP’s work on innovative financing for the SDGs includes a cooperation with the Government on the successful launch of Green Sukuk, combining Zakat and Corpore Social Responsibility funds for poor rural communities in partnership with BAZNAS and Bank Jambi, support to social enterprises and the establishment of a Social Impact Fund with ANGIN and Canada, as well as the launching of several crowdfunding campaigns.
Under six specific windows, the Innovative Finance Lab will focus on:
- Zakat for the SDGs, CSR, and Crowdfunding,
- Technology including Waqf Blockchain and Digital Zakat,
- Islamic/Green Financing for Green Bonds or SDG Bonds.
- Accelerator for Entrepreneurs and Start-ups Incubation
- Impact Investments
Knowledge Generation and Dissemination for Innovative Finance in Indonesia and internationally.
As a product of partnership between UNDP Indonesia and SINTESA Group. The Innovative Finance Lab is located in Innovest, in a co-working space by SINTESA GROUP, at Menara Duta in Jl. H. R. Rasuna Said Kav B/09, Kuningan, Jakarta. “It is an honour to have UNDP as a member of Innovest and we foresee a lengthy and successful partnership in terms of promoting SDG in both Indonesia’s business and government” said Ibu Shinta Kamdani, the CEO of SINTESA GROUP.
Mohamad Ikhsan Modjo
Twitter : @FinancingLab_ID
Fb Page: Innovative Financing Lab
Jl. H. R. Rasuna Said Kav B/09,Kuningan, Setia Budi, Jakarta Selatan, 12910
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