ASEANEWS-HEADLINE: Indonesian AID pledges a 6 billion grant to support ASEAN Finance Process under Lao’s Chairmanship 2024
The grant agreement is signed by representatives of Indonesian AID and the government of Laos. The ceremony was witnessed by Laos’ Minister of Finance, Indonesia’s Vice Minister of Finance, and the Ambassador of Indonesia to Laos.
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The Indonesian government has pledged a grant of more than 6 billion rupiah (more than 8 billion kip) to support the ASEAN Finance Process in 2024 during Laos’ chairmanship of the regional bloc.
The grant, to be provided through the Indonesian Agency for International Development (AID), reflects Indonesia’s strong commitment to contribute to Laos’ successful chairmanship of ASEAN.
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ndonesian AID was established in October 2019 and over the course of four years has provided development cooperation grants totalling approximately US$22.86 million to 58 countries including Laos.
The agency has worked on education and capacity building in health and agriculture, as well as in the field of humanitarian assistance.
Memento Maxima Digital MarketingThe grant agreement between the Government of Indonesia and Laos was signed during a bilateral meeting between the two countries, on the sidelines of the 11th ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) on April 3, 2024, in Luang Prabang, Laos.
The Chief Executive Officer of Indonesian AID, Mr Tormarbulang Lumbantobing, and the Director General of the External Finance Department of Laos’ Ministry of Finance, Mr Vongkhamheng Vongthachack, represented their countries in signing the grant agreement.
Laos’ Finance Minister Santiphab Phomvihane and the Vice Minister of Finance of Indonesia, Mr Suahasil Nazara were also present to witness the signing ceremony and the exchange of the agreement document between the two parties.
In his remarks, Vice Minister Nazara said Indonesian AID aims to actively generate positive contributions in the common endeavours between Indonesia and Laos for the benefit of both nations as well as for the ASEAN region.
He also emphasised that this grant aims to promote the sustainability of several ASEAN initiatives, such as collaboration in the financial and health sector, and the establishment of the ASEAN Treasury Forum.
Indonesia initiated the first ASEAN Finance and Health Ministers Meeting (AFHMM) in 2023.
The joint meeting of ASEAN Finance and Health Ministers provides a forum to intensify collaboration between health and finance authorities to strengthen regional health capacity.
It particularly addresses immediate challenges to ensure the sustainability of the region’s recovery and post-pandemic rebuilding effort.
Indonesia also proposed the establishment of the ASEAN Treasury Forum (ATF) in 2023, which aims to drive collective steps to modernise both practices and policies towards a more transparent and accountable public finance management, specifically treasury management.
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Laos’ Finance Minister Santiphab Phomvihane, during the signing ceremony, further emphasised the significance of the signing ceremony and stated that Indonesia’s support and partnership are invaluable as Indonesia and Laos work together to enhance ASEAN connectivity and resilience.
Indonesian Ambassador to the Lao PDR, Grata Endah Werdaningtyas, who also attended the ceremony, highlighted that the grant agreement signifies Indonesia’s longstanding commitment to supporting Laos’ ASEAN chairmanship.
She further recalled that Indonesia has also provided support including financial assistance during Laos’ previous chairmanships of ASEAN in 2004 and 2016.
The grant agreement covers assistance on both substantive aspects and logistical arrangements of some programmes/activities.
These include training, dispatch of experts, organisation of ATF and AFHMM, as well as providing conference equipment such as computers and laptops.
Implementation of the grant agreement started before the signing ceremony with a capacity-building programme for Liaison Officers and Voluntary Officers of the 11th AFMGM on March 25, 2024, in Vientiane.
The programme provided 35 Lao Liaison Officers with the knowledge and skills necessary to effectively carry out their responsibilities and ensure smooth proceeding of the 11th AFMGM.
The capacity building programme covered training related to protocol and diplomatic etiquette, the duties and functions of a Liaison Officer, and effective communication strategies.
Indonesia’s continued support for Laos’ chairmanship of ASEAN underscores the spirit of solidarity and partnership that defines ASEAN’s collective pursuit of shared prosperity and progress.
Through sustained collaboration and concerted efforts, Indonesia and Laos remain steadfast in their commitment to advancing ASEAN’s economic agenda and fostering greater financial integration, stability, prosperity, and resilience across the region.
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By Times Reporters
(Latest Update April 4, 2024)
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