13 July 2022 | Tri Hita Karana Road to G20 Dialogue “The Global Blended Finance Alliance for MSMEs and Energy Transition”

This event was conducted in hybrid format and was held at the UID Bali Campus on July 13, 2022, with more than 150 participants and brought together high-level government officials, multilateral organizations, embassies, global philanthropic organizations, and investors who shared on concrete actionable examples of large blended finance and investment opportunities of MSMEs and Energy Transition. The participants attended came from Australia, Canada, China, Denmark, Egypt, Germany, Indonesia, Saudi, Singapore, the UK, the US, and Vietnam.

Tantowi Yahya, president of United in Diversity and executive lead of THK Forum, conveyed the importance of cross-sector collaboration in holding this initiative. There were four key takeaways: the urgency to close the financing gap to achieve the SDGs by 2030, collaboration and partnership as the main way to overcome SDG challenges through Global Blended Finance Alliance, the blended finance as a tool to help the SDG financing gap as well as mobilizing additional finance from private sector and philanthropies towards sustainable development in developing countries.

The key philanthropies who attended the dialogue include Rockefeller Foundation, Open Society and Chair of Global Alliance of Foundations, Ford Foundation, Packard Foundation, TemaseK Trust, AVPN, Asia Philanthropy Circle, Global Philanthropy Circle, Global Energy Alliance People Planet (GEAPP). Multilaterial organisations such as World Bank, Asian Development Bank, China Development Bank, OECD, KFW development bank, Brazil Development Bank and Saudi Industrial Development Fund also attended.

Michael Muldoon, Managing Director of the Rockefeller Foundation commented that the Rockefeller Foundation is proud to support the Global Blended Finance Alliance. He shared two quick thoughts on supporting MSME growth via blended finance; 1)importance of local financial institutions as key interlocutors (guarantees to support their lending, access to capital markets to facilitate their scale) and; 2) importance of technical assistance to support SME growth (i.e. going beyond solely access to finance).