Jakarta. Germany has agreed to cancel Indonesia’s debt worth 75 million euros, or about $78 million, in exchange for the Southeast Asian country investing in its health programs public action against HIV and tuberculosis.

According to the Ministry of Finance, the government recently signed a debt-for-health swap agreement with the German public development bank KfW and the international financial organization Global Fund to Fight AIDS, Tuberculosis and Malaria. (GFATM). In other words, the money originally earmarked for debt repayment will be used to improve Indonesia’s treatment facilities for tuberculosis, HIV and hepatitis. Part of the debt saved will also be used to strengthen the overall health system of the archipelago country.

“This is a good example of how countries can work together using innovative financing programs to address global health challenges,” said Suminto, a senior finance ministry official, in a recent press release. press.

A report from the World Health Organization shows that Indonesia accounts for 10 percent of the world’s tuberculosis cases in 2023. Indonesia is the second largest contributor to the world’s tuberculosis cases, just behind India, which represents 26 percent of the world total.

The official Antara news agency reported that Indonesia had set a goal of halving the number of tuberculosis cases nationwide over the next five years. To do this, the government plans to strengthen screening. The Ministry of Health recorded 35,415 new HIV cases this year, as of September. The government also reported that the prevalence rate of hepatitis B liver infection stood at 2.4 percent last year.

This is not the first time that a country has exchanged Indonesian debts for other initiatives. Earlier this year, the United States agreed to forgive Indonesia’s $35 million debt in exchange for preserving its coral reef ecosystem.

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