Indonesian Vice President Highlights Digital Payment System at G20 Summit
Johannesburg, The Gulf Observer: Indonesian Vice President Gibran Rakabuming Raka promoted Indonesia’s national digital payment system, QRIS (Quick Response Code Indonesia Standard), as a simple and accessible solution for economic participation during the G20 Summit in Johannesburg on Saturday.
In his address to world leaders, Vice President Gibran emphasized Indonesia’s ongoing efforts to promote financial inclusion through QRIS, which he described as a low-cost digital tool capable of expanding economic participation and reducing inequality.
“Our national digital payment system, QRIS, demonstrates how simple and low-cost digital solutions can foster economic participation and reduce inequality,” he said.
The first session of the G20 Summit focused on sustainable economic issues, trade and finance’s role in development, and debt challenges facing developing countries. In this context, Vice President Gibran welcomed the G20’s emphasis on sustainable finance but stressed the need for concrete actions to close financing gaps and support adaptation, mitigation, and a fair transition to a green economy.
He called for more accessible, predictable, and equitable financing for developing countries, highlighting the importance of debt relief, innovative financing, blended finance, and mechanisms to facilitate green transition. Indonesia, he noted, allocates over half of its national climate budget — approximately USD 2.5 billion annually — to support green micro, small, and medium enterprises (MSMEs), agricultural insurance, and climate-resilient infrastructure.
Vice President Gibran also addressed emerging technologies, including crypto assets and digital tokens such as Bitcoin, pointing out that while they present opportunities, they also carry potential risks. He proposed that the G20 initiate a dialogue on economic intelligence to better navigate these innovations.
Through his remarks, Vice President Gibran underscored Indonesia’s commitment to financial inclusion, sustainable development, and the promotion of innovative digital solutions as tools for equitable economic growth.
