Indonesia approves 11 collaborative projects through BKCF: ministry

id economy,Coordinating Ministry for Economic Affairs,BKCF,south korea

Indonesia approves 11 collaborative projects through BKCF: ministry

Indonesia establishing 11 collaboration project through BIMP-EAGA - Republic of Korea Cooperation Fund (BKCF) scheme in Jakarta, July 23, 2023. (ANTARA/HO-Kemenko Perekonomian)

Jakarta (ANTARA) - CoordinatingBaca juga: Indonesia must push sustainable development in ASEAN has affirmed that Indonesia has approved 11 collaborative projects through the BIMP-EAGA - Republic of Korea Cooperation Fund (BKCF) scheme.

"To follow up with the collaboration agreement made by Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) and Republic of Korea, a BIMP-EAGA Senior Officials Meeting (SOM) was held in Seoul on July 20," Assistant Deputy for Regional and Subregional Economic Cooperation at the ministry Netty Muharni said.

The meeting was chaired by Director General for ASEAN and Southeast Asia at South Korea's Foreign Ministry Dong Bae Kim and co-chaired by BIMP-EAGA Secretary General of Malaysia's Ministry of Economy Dato’ Nor Azmie Bin Diron, she said in a statement received here on Sunday.

At the meeting, 11 collaborative projects have been established under the BIMP-EAGA - Republic of Korea Cooperation Fund (BKCF) scheme, she added. Muharni highlighted the importance of improving the mechanism to implement the scheme's projects, particularly by monitoring and collaborating with other stakeholders, such as Cluster/Working Groups (CWGs), BIMP-EAGA Business Council (BEBC), scholars, and governments of sub-regional areas.

Programs to improve stakeholders' capacities are also deemed necessary so as to improve the quality of proposals and implementation, she added. "We can extend this collaboration in all prioritized sectors of the BIMP-EAGA in the future, particularly those related to security and energy and energy transition which are now globally discussed," she noted.

In 2021-2022, the first and second round of BKCF were conducted and had generated funds totalling USD 3.5 million. This had increased enthusiasm of many sectors and BIMP-EAGA, she said. In 2023, the program is once more hosted in an inclusive manner, covering connectivity, tourism, environment, agriculture, and fisheries sectors, she said.

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Muharni said that at the meeting, they agreed to establish the official logo and website for BKCF so that more people are aware of the collaboration, and it can give broader impact. Many social media platforms such as Facebook, Instagram, and Twitter are utilized to reach millenials.