Jakarta (VNA) – Indonesia has received a grant of 27.2 million GBP (about 33 million USD) from the UK for the second phase of the Low Carbon Development Initiative (LCDI) to help achieve the net zero emissions target by 2060 or sooner.
The launch of the UK's second phase grant for this initiative was announced by British Minister of State for the Indo-Pacific Anne-Marie Trevelyan, along with Indonesian Minister of National Development Planning Suharso Monoarfa in Jakarta on October 2.
Speaking after the signing of a technical agreement on the grant, Trevelyan said the grant for the LCDI is part of the UK's international finance mobilisation to tackle climate emergency.
The two sides see the LCDI as the backbone of Indonesia's green economic growth and of bilateral cooperation in climate issues, she said, adding that the initiative completes her country’s support for Indonesia's green transition in other areas, such as the Indonesia Just Energy Transition Partnership (JETP).
Indonesia plans to attract financing for the LCDI outside the state and regional budgets by involving the private sector, whether domestically or globally.
The second phase of the LCDI will involve eleven provinces, namely West Java, Central Java, Riau Islands, Papua, West Nusa Tenggara, Bengkulu, Maluku, North Sumatra, South Sulawesi, and Bali.
The LCDI is the Indonesian Government's main policy to reduce emissions and encourage sustainable growth and development. The UK's first phase grant was launched in 2017, marking the first time climate targets were included in Indonesia's development plans./.
