Source: Pok Rie (Pexels)
Indonesia has secured a US$500m loan from the Asian Development Bank (ADB) in support of energy sector and green recovery.
“The program supports the government in implementing a policy framework to achieve financial sustainability for the energy sector and improved energy access, along with a commitment to a clean energy transition,” ADB Senior Energy Specialist Yuki Inoue said.
“The reforms will also pave the way for taking forward the broader energy transition agenda announced by Indonesia and its international partners at the recently concluded Group of 20 meetings.”
ADB will also administer a US$15m loan for the Sustainable and Inclusive Energy Program, funded by the Association of Southeast Asian Nations (ASEAN) Infrastructure Fund.
The project also covers US$292m in cofinancing from the German Development Cooperation and $60m from the Economic Development Cooperation Fund.
