CIDISS. The Annual Meeting of the International Monetary Fund and the World Bank (IMF-World Bank) in October 2018 is an important moment for Indonesia. The Capital Investment Coordinating Board (BKPM) in collaboration with PT Bank HSBC Indonesia will organize Forum infrastructure as one of the parallel events of the IMF-World Bank 2018 year meeting.
Head of the Investment Coordinating Board, Thomas Lembong plans to utilize the World Bank 2018 International Monetary Fund Meeting to discuss the construction of natural disaster-resistant infrastructure.
Thomas said, the HSBC-BKPM Event is certainly a matter of infrastructure financing. The interesting aspect is how to ensure the infrastructure from the possibility of natural disasters. He personally wants to take advantage of IMF-WB opportunities to discuss aspects of disaster.
Thomas explained that along with the growth of the economy and the geographical conditions of Indonesia, the disaster management industry industry must receive attention, both in terms of funding and the financial sector in general.
According to him, Indonesia is time to take lessons from the earthquake disaster in Lombok and in Donggala followed by the tsunami, by strengthening earthquake-resistant infrastructure. Facilities and infrastructure such as electricity and telecommunications must be considered in terms of earthquake resistance. Moreover, after all the infrastructure affected by the earthquake and tsunami entered a period of reconstruction, buildings must meet natural disaster resistance standards, both earthquakes, tsunamis, floods and storms.
In terms of financing, Thomas added that the disaster management industry can be started from financial product innovation, such as insurance against disaster preparedness.
Thomas revealed, this might be helped from the financial sector, through calculation of calculations in funding criteria, disaster preparedness insurance, for example how to fund the stock of goods needed.
There is also in the Infrastructure Forum, this activity is expected to encourage the private sector to play a role in Indonesia’s infrastructure development.
The plan of the event will be opened directly by President Joko Widodo, which will then be filled with panel sessions from BKPM, Bank Indonesia, the Financial Services Authority and former Finance Minister Chatib Basri. The next panel session will be filled by representatives from PT Sarana Multi Infrastruktur (SMI), Price Waterhouse Coopers Indonesia, and Power China International.
With the holding of this IMF-World Bank meeting, it is expected to be a bridge for IMF member states in providing support to Indonesia, which is currently experiencing difficulties due to disasters in Lombok and Central Sulawesi, Palu, so that Indonesia can rise again from the downturn natural disasters that hit through the construction of new infrastructure in the area.
By: Reza Setiawan *)