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