Indonesia and Spain agree to strengthen bilateral financial cooperation
Indonesia and Spain have agreed to strengthen financial cooperation through the implementation of the Indonesia-Spain Bilateral Financial Cooperation Mechanism, which will bring tangible benefits in supporting sustainable development and economic innovation.
The commitment to strengthening financial cooperation was one of the main topics of discussion at the third Indonesia-Spain Political Consultation between the delegations of the two countries at the Indonesian Ministry of Foreign Affairs (Kemlu) in Jakarta, March 11, 2025.
According to the Director General of America and Europe at the Indonesian Ministry of Foreign Affairs, Umar Hadi, who led the Indonesian delegation at the consultation, the collaboration not only increases funding efficiency but also opens up opportunities for innovative collaboration in various sectors.
"We see direct benefits from the Indonesia-Spain financial cooperation mechanism, which enables the implementation of strategic projects such as the Integrated Maritime and Fisheries Surveillance System, as well as strengthening the cybersecurity ecosystem in Indonesia," Umar said, according to a written statement from the Indonesian Ministry of Foreign Affairs received on Thursday.
He views the mechanism as supporting the strengthening of trade and investment relations and providing direct economic benefits to the people of Indonesia and Spain.
Meanwhile, Luis Fonseca Sanchez, Director General for North America, Eastern Europe, and Asia-Pacific at the Spanish Ministry of Foreign Affairs, who led the Spanish delegation, said the collaboration demonstrated the two countries' shared commitment to addressing global challenges.
“Spain greatly values this partnership, which reflects a shared vision to support economic growth and innovation,” said Sánchez.
He expressed his hope that in the future, cooperation would be established in more areas, especially in the renewable energy sector, such as the Just Energy Transition Partnership (JETP).
Cooperation with Spain in the renewable energy sector is considered appropriate because Spain is one of the European countries with the fastest development of renewable energy, especially for wind and solar power.
According to the Indonesian Ministry of Foreign Affairs, Spain's renewable energy production reached 149 TWh, contributing 56 percent of its energy supply, while fossil fuel energy use there continues to decline to just 1.1 percent.
In addition to financial and renewable energy cooperation, the delegations of the two countries discussed efforts to increase interaction between people through education, such as teaching Spanish on Indonesian campuses and opening Indonesian for Foreign Speakers (BIPA) classes for Spanish citizens.
Indonesia also hopes that Spain can provide scholarships for Indonesian students and encourage more Spanish students to study in Indonesia, which provides a number of scholarships, such as the Indonesian Arts and Culture Scholarship (BSBI).
The commitment to strengthening financial cooperation was one of the main topics of discussion at the third Indonesia-Spain Political Consultation between the delegations of the two countries at the Indonesian Ministry of Foreign Affairs (Kemlu) in Jakarta, March 11, 2025.
According to the Director General of America and Europe at the Indonesian Ministry of Foreign Affairs, Umar Hadi, who led the Indonesian delegation at the consultation, the collaboration not only increases funding efficiency but also opens up opportunities for innovative collaboration in various sectors.
"We see direct benefits from the Indonesia-Spain financial cooperation mechanism, which enables the implementation of strategic projects such as the Integrated Maritime and Fisheries Surveillance System, as well as strengthening the cybersecurity ecosystem in Indonesia," Umar said, according to a written statement from the Indonesian Ministry of Foreign Affairs received on Thursday.
He views the mechanism as supporting the strengthening of trade and investment relations and providing direct economic benefits to the people of Indonesia and Spain.
Meanwhile, Luis Fonseca Sanchez, Director General for North America, Eastern Europe, and Asia-Pacific at the Spanish Ministry of Foreign Affairs, who led the Spanish delegation, said the collaboration demonstrated the two countries' shared commitment to addressing global challenges.
“Spain greatly values this partnership, which reflects a shared vision to support economic growth and innovation,” said Sánchez.
He expressed his hope that in the future, cooperation would be established in more areas, especially in the renewable energy sector, such as the Just Energy Transition Partnership (JETP).
Cooperation with Spain in the renewable energy sector is considered appropriate because Spain is one of the European countries with the fastest development of renewable energy, especially for wind and solar power.
According to the Indonesian Ministry of Foreign Affairs, Spain's renewable energy production reached 149 TWh, contributing 56 percent of its energy supply, while fossil fuel energy use there continues to decline to just 1.1 percent.
In addition to financial and renewable energy cooperation, the delegations of the two countries discussed efforts to increase interaction between people through education, such as teaching Spanish on Indonesian campuses and opening Indonesian for Foreign Speakers (BIPA) classes for Spanish citizens.
Indonesia also hopes that Spain can provide scholarships for Indonesian students and encourage more Spanish students to study in Indonesia, which provides a number of scholarships, such as the Indonesian Arts and Culture Scholarship (BSBI).
