<기사제목>Ministry of Economy and Finance and Korea Development Bank Hold Korea-Indonesia Climate Change Response Workshop

KDB Industrial Bank "To Lead Expansion of Our Companies' Entry and Business Support in Developing Countries' Climate Finance Market"

[Asia Economy Reporter Park Sun-mi] The 'Korea-Indonesia Climate Change Response Programming Workshop,' jointly hosted by the Ministry of Economy and Finance and the Ministry of Finance of Indonesia, and co-organized by Korea Development Bank and the Global Green Growth Institute (GGGI), was held on the 4th at the Government Sejong Convention Center.

The Ministry of Economy and Finance, Ministry of Environment, Korea Development Bank, and others attended to share Korea's experience and future green recovery strategies. From Indonesia, government agencies such as the Ministry of Finance and the Agency for the Assessment and Application of Technology, as well as Mandiri Bank, participated.

At this event, the current climate crisis situation and response trends in Indonesia were shared. Time was also spent exploring ways to support local climate technology innovation. Panel discussions were held on improving financial accessibility for climate change response support and analyzing local climate technology needs in Indonesia.

Korea Development Bank announced that through this workshop, it has established a foothold for domestic companies engaged in climate change response projects to enter the Indonesian market as a certified entity of the Green Climate Fund (GCF). The bank is determined to lead the expansion of Korean companies' entry into developing countries' climate finance markets and business support.

To promote a major transformation into a policy finance institution leading green finance, Korea Development Bank expanded and reorganized its existing Policy Planning Division into the Policy and Green Planning Division in early January this year, and established the 'ESG and New Deal Planning Division' to serve as the control tower for green finance. The bank also set plans to ensure sufficient and prompt green finance support through initiatives such as the establishment of the 'Korea Great Transformation New Deal Program' worth approximately 25 trillion KRW over the next five years, the creation and operation of a 20 trillion KRW policy-type New Deal fund, and the development of financial products reflecting the government's Long-term Low Carbon Development Strategy (LEDs).

A Korea Development Bank official stated, "We have taken the lead in the entry, business restructuring, and investment expansion of domestic companies in various eco-friendly sectors such as electric vehicle parts, water treatment, and waste industries," adding, "Going forward, Korea Development Bank plans to set 'climate change response' as one of the long-term development directions and link it with the bank's unique role of 'fostering innovative companies and strengthening industrial competitiveness.'"

This content was produced with the assistance of AI translation services.