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ADB approves 500 million USD loan to support green growth in Indonesia

The Asian Development Bank (ADB) has approved a policy-based loan of 500 million USD for Indonesia to help this Southeast Asian country enhance its competitiveness, advance green growth, and accelerate trade.

Hanoi (VNA) - The Asian Development Bank (ADB) has approved a policy-based loan of 500 million USD for Indonesia to help this Southeast Asian country enhance its competitiveness, advance green growth, and accelerate trade under the third subprogramme of the Competitiveness, Industrial Modernisation, and Trade Acceleration (CITA) Programme.

Jiro Tominaga, ADB Country Director for Indonesia, said that the loan supports the Indonesian Government's long-term goal of transforming Indonesia into a high-income economy by 2045 through structural reforms and sustainable growth.

The reforms under the CITA subprogrammes will help attract more investment in green and sustainable businesses, reduce trade barriers, and empower local enterprises, particularly those owned by women, Tominaga said

According to the ADB, the initiative seeks to enhance Indonesia's investment climate, modernise its industrial base, and strengthen its capacity to address climate-related challenges./.

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#Asian Development Bank (ADB) #CITA Programme #Indonesia #Indonesia's investment climate Indonesia
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