synergies to upscale pilot projects and good practices to reach more regions, especially remote areas and multi - stakeholder approach where governments, private sector and civil society need to jointly engage, scale up and harmonized efforts to enable all least developed regions to achieve their mdgs. lastly she believes that climate change mitigation and adaptation are far more than technology and infrastructure. it is about people ’ s resilience and building partnerships for everybody ’ s informed participation in climate change mitigation and adaptation together with efforts to achieve other mdgs. ladies and gentlemen, we have taken another step forward in shaping a common position for mitigating the global climate change impact toward a better life of human beings. following the bali roadmap on december 2007, and again through this seminar, the issues concerning the action of adaptation and mitigation of climate change will be discussed more comprehensively in searching for an effective and efficient global resolution. having done all these and more, i do believe that we have not only completed some part of our preparations for the world actions in mitigating negative global climate change impact, but also advanced our broad inspirations for the building of macroeconomic and financial stability, for the long lasting prosperity of human being. considering the multitude of points of view and the speakers and participants arguments, some of them conflicting with each other, on the various global climate changes impact that we have addressed, it is remarkable that we have accomplished as much as we discussed. i can only attribute this productiveness to your diligence and dedication and, above all, your will to accommodate and compromise in order to arrive at a common ground. for we all know that the stakes are exceedingly high, that the quality of life of future generations depends on the efficacy of our present efforts. we know that human welfare is indivisible and that has given us a strong sense of common purpose which is the unmistakable evidence that in all of us the spirit of bali is vibrantly alive. indeed, we have not merely paid lip service to history. through our exertions during yesterday, through what we have accomplished in this seminar, we have endeavored to pay proper homage to the first generation of world leaders who met in this island last year. my dear colleagues, distinguished participants, in this meeting you have all generously contributed your valuable thoughts and your power of articulation you have also given much of yourselves, many of you working until the small hours of the morning in order to fulfill this

. third, to support financial market deepening, especially in encouraging transactions and developing interbank rate structure for 3 month to 12 month terms. in line with the enhancement, bank indonesia also accelerates the implementation of financial market deepening program by pursuing the following steps : ( i ) strengthening the role of jakarta interbank offered rate ( jibor ) in shaping the interest rate structure of the money market across tenors from overnight to 12 months ; ( ii ) accelerating the repo transactions in the money market by promoting banks participation in general master repo agreement ( gmra ) ; and ( iii ) bis central bankers ’ speeches alleviating market segmentation and boosting the market ’ s transaction capacity by encouraging banks to open more access to counterparty. distinguished guests, ladies and gentlemen, it seems that under the current global dynamics, the only certainty is the uncertainty itself. and therefore the focus of central banks should be on nurturing the economic growth, while maintaining stability. across the globe, central banks are pressured to continuously pull a rabbit from a hat, offering a formula to tackle the important issues of economic slowdown. nonetheless, we should be mindful that in an era of new normal with political uncertainty, all of us should relentlessly and collectively strengthen the foundations of global financial system. in this spirit, we are bringing all the relevant stakeholders to the table to continue the policy dialogue. hence, i am pleased to have the presence of the participants from east and west : central bankers, financial regulators, global policy makers, and market players. i sincerely believe that sharing perspectives and experiences among stakeholders will equip us with additional significant insights to enhance mutual understanding between authorities and industries towards sound policy responses and implementations. moreover, the presence of all distinguished participants would strengthen communication and collective action commitments in facing the challenges of economic and monetary divergence. finally, once again i would like to express my appreciation to honorable governors, heads of financial supervision authorities, distinguished speakers and all guests for your participation in the seminar, and wish you an enjoyable and fruitful deliberation. i also hope that in the middle of the seminar ’ s tight schedule, some of you are able to enjoy bali and experience its picturesque view and unique cultural identity. after all, this is the place where the movie “ eat, pray and love ” was taken. so please make your time. thank you. bis central bankers ’ speeches