Indonesia and Spain Strengthen Financial Cooperation

 

Wednesday, 16 September 2026

 

Indonesia and Spain are continuing to develop their bilateral relationship, and financial cooperation is becoming one of the areas receiving attention. In March 2025, representatives from both countries discussed ways to strengthen financial cooperation and support sustainable development and economic innovation.

 

The discussion took place during the third Indonesia-Spain Political Consultation in Jakarta. The meeting covered several areas of bilateral relations, including economics, trade, defense, and people-to-people connections.

 

A Financial Cooperation Mechanism

 

One important part of the discussion was the Indonesia-Spain Bilateral Financial Cooperation Mechanism. According to Indonesia’s Foreign Ministry, the mechanism can help improve funding efficiency while also creating opportunities for cooperation in different sectors.

 

Indonesian Foreign Ministry Director General for the Americas and Europe, Umar Hadi, highlighted several projects that have benefited from this cooperation. These include the Maritime and Fisheries Integrated Surveillance System and efforts to strengthen Indonesia’s cybersecurity ecosystem.

 

This shows that financial cooperation between the two countries is not limited to traditional banking or direct investment. It can also support projects involving technology, security, maritime activities, and other areas of development.

 

Supporting Trade and Investment

 

Financial cooperation can also play a role in strengthening trade and investment between Indonesia and Spain. Better financing mechanisms can make it easier for strategic projects to receive support and create opportunities for companies from both countries.

 

Umar Hadi said the mechanism could provide direct economic benefits for people in Indonesia and Spain. For businesses, stronger financial cooperation can potentially create more room for partnerships and new projects.

 

Spain also expressed support for continuing the partnership. Luis Fonseca Sánchez, Director General for North America, Eastern Europe and Asia Pacific at Spain’s Foreign Ministry, said the cooperation reflects a shared commitment to economic growth and innovation.

 

Renewable Energy Is Another Opportunity

 

Renewable energy was also mentioned as an area where Indonesia and Spain could develop more cooperation in the future.

 

Spain has significant experience in renewable energy, particularly solar and wind power. During the 2025 consultation, Sánchez expressed hope for more cooperation in renewable energy, including areas related to the Just Energy Transition Partnership, or JETP.

 

For Indonesia, this could be relevant as the country continues to explore ways to develop cleaner energy and attract investment into sustainable projects.

 

Beyond Finance

 

The relationship between Indonesia and Spain is also broader than financial cooperation. The two countries discussed education and people-to-people connections, including Spanish-language programs at Indonesian universities and opportunities for Indonesian students to receive scholarships.

 

They also discussed encouraging more Spanish students to study in Indonesia through programs such as the Indonesian Arts and Culture Scholarship.

 

Overall, the financial cooperation mechanism provides another channel for Indonesia and Spain to work together. From maritime projects and cybersecurity to trade, investment, and renewable energy, the partnership covers a growing range of areas.