Indonesia urges ADB to strengthen private sector support for sustainable growth in Asia-Pacific region

The Asian Development Bank (ADB) needs to strengthen its focus on private sector development as a key driver of sustainable and inclusive growth in the region, Acting Alternate Governor for Indonesia in the ADB Kurniawan Ariadi said during the Governors' Business Session at the 59th Annual Meeting of the ADB Board of Governors, Report informs.

According to ADB, Indonesia supports the bank's efforts in digital transformation and expanded regional cooperation, which form the foundation for long-term economic growth in the Asia-Pacific region.

In this context, he emphasized the importance of advancing strategic initiatives aimed at strengthening connectivity and increasing the resilience of economies.

Ariadi emphasized that, given the region's significant reserves of critical mineral resources, the development of sustainable value chains-from raw material extraction to processing, manufacturing, and subsequent disposal-is particularly urgent.

He believes such initiatives help bridge existing gaps in production chains and contribute to the development of a more balanced and sustainable economic model.

Indonesia, he added, supports the policy of increasing domestic added value through industrialization and the development of integrated supply chains.

Strengthening regional cooperation in critical minerals, he believes, will be a key factor in ensuring the sustainability of supply chains, advancing the energy transition, and achieving inclusive growth.