Bali, November 13th – 14th, 2022 – The Business 20 (B20 Summit) is the official G20 engagement group representing the global business community. It is tasked with formulating actionable policy recommendations on the top priorities set by each presidency, which will then be delivered to the G20 Presidency. The B20 under the 2022 Indonesian Presidency embraces the theme of “Advancing Innovative, Inclusive and Collaborative Growth” and promotes issues around economic growth and development, while addressing various critical global issues, such as post-crisis growth, health emergency preparedness, climate change, and digitalization.
This year, the Indonesian Chamber of Commerce and Industry (KADIN Indonesia) was the host of the B20 Summit Indonesia 2022. Taking place at the Bali Nusa Dua Convention Centre (BNDCC), the summit gathered more than 3,000 delegates from 69 countries, significant business and state leaders, as well as participants from the global business community across a range of industries. The two-day Summit was also joined by over 45,000 online participants, witnessing over 50 sideline meetings and dozens of MoU signings, with 103 top speakers sharing their thoughts. The carbon-neutral B20 Summit Indonesia 2022 set a new standard for B20 history as well, beginning with a spectacular opening performance and ending on a high note with President Joko Widodo’s closing speech.
Funding Societies | Modalku representatives who attended the B20 Summit Indonesia 2022 were Iwan Kurniawan, Co-founder and COO of Modalku, and Annette Aprilana, Sustainability and ESG Lead. Both attended the main panel sessions along with several sideline events that took place during the B20/G20 week in Bali.
Among the topics of the plenary sessions during the 2-day summit include ‘Enabling Entrepreneurship, Business Growth, and Job Creation with a focus on MSMEs and Women Led Businesses’, ‘Investing in Inclusive Growth for a Resilient Future’ , and ‘Creating a Sustainable Resilient Economy through Innovation’. There were many sessions that touched upon the themes of sustainability, ESG, the green economy and climate change. This goes to show the importance of these issues and the direction in which businesses are going. Along with the forward-looking issues that were discussed, the summit also provided an update on the activities and policy recommendations of the B20 task forces. This year the 6 Task Forces and 1 Action Council collectively made 25 recommendations to the G20 to take forward, covering areas of innovation, empowering MSMEs and vulnerable groups, and collaboration between developed and developing countries.
Funding Societies | Modalku was a member of the Finance and Infrastructure Task Force and the Women in Business Action Council in B20. We were represented by Annette Aprilana, who joined the monthly task force meetings together with other company representatives from across the globe to formulate the policy recommendations. As a company, we supported the development of the task force and action council structure, where our main focus is to deliver and strengthen the policy recommendations through our perspective as a FinTech and SME lender.
Through the Women in Business Action Council (WiBAC), B20 intends to “create more opportunities for women to step up, participate in and access enhanced business and economic opportunities”. WiBAC’s legacy program is the One Global Women Empowerment (OGWE) platform, which aims to empower and support women in business and women entrepreneurs. Funding Societies | Modalku has pledged our commitment towards accelerating women empowerment by providing funding and investment for women-led MSMEs and women in the workforce.
On the other hand, one of the outcomes of the Finance and Infrastructure task force is the emergence of a USD $2 billion green electric vehicle (EV) fund. The fund is a partnership between the Indonesia Investment Authority (INA) and China’s battery manufacturers CATL and CMB International where the fund will make investments along the EV value chain. This shows Indonesia’s commitment towards a green economy and helps to generate investment for Indonesia and create more employment opportunities in a new sector.
There were many successful events, partnerships and recommendations that were suggested and executed by the various stakeholders this year. With the B20 Summit Indonesia 2022 successfully coming to a close, India will now hold the next presidency in 2023. Funding Societies | Modalku wishes the best for the next presidency and hopes that it will continue to have a lasting impact.