For the past five years, the Green Climate Fund (GCF) has been supporting the building of a climate finance environment in Indonesia through the first to the third phase of the Readiness Program. At the Global Green Growth Institute (GGGI) Steering Committee Meeting on March 27th, 2023, Noor Syaifudin, representing the Head of Fiscal Policy Agency (FPA), presented the activities and impact of the Readiness Program managed by FPA as the GCF National Designated Authority (NDA) in Indonesia.

During this event, each of the GGGI government partners presented their respective joint programs, from ministries and state-owned enterprises to regional governments. This coordination forum serves as a valuable instrument for the NDA to further discern sectoral needs and progress, serving as a reference for GCF strategy and programs in Indonesia.

One of the Steering Committee members present in the meeting was Bambang Brodjonegoro, the former Finance Minister (2014-2016), National Development Planning Minister (2016-2019), and Research and Technology Minister (2019-2021). He stressed the importance of increasing linkages between programs, such as combining land regeneration with renewable energy, and provided an example of combining ex-mining land regeneration with solar panel development near the used mining pit.

He emphasized the role of international funds in supporting blended financing, which can ultimately help engage the private sector in environmental programs. This aligns with the GCF's vision, which always emphasizes the involvement of the private sector in GCF-funded programs wherever possible. Therefore, the government is expected to establish an ecosystem that triggers the private sector's further contribution to Indonesia's green funding.

While the GCF focuses on climate funding, it also broadly supports green development and the Sustainable Development Goals in Indonesia. Projects funded by the GCF are expected to have co-benefits in gender and social issues. In addition, the GCF promotes programs with sustainable frameworks that are underpinned by environmental, social, and economic aspects, so that Indonesia's sustainable development can be achieved.