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World Bank approves 1.1 billion USD Indonesia loan

The World Bank has approved two projects worth 1.1 billion USD to expand access to cleaner electricity in Indonesia.
World Bank approves 1.1 billion USD Indonesia loan ảnh 1Illustrative photo (Photo: thejakartapost.com)

Jakarta (VNA) - The World Bank has approved two projects worth 1.1 billion USD toexpand access to cleaner electricity in Indonesia.

The firstproject, worth 500 million USD, will connect about 2 million Indonesians to theelectricity grid in the eastern part of the country, increase solar powerinvestment and help Indonesia’s electrical power company, PT. PLN Persero improveits capacity to manage energy transition, the World Bank said in a statement.

It will beco-funded by the World Bank, the private sector and PLN and includes fundingfrom Canada Clean Energy and Forest Climate Facility and the Clean TechnologyFund.

The project willmobilise private sector finance for Indonesia’s energy transition and helpcommunities adapt to climate change, Manuela V. Ferro, World Bank Vice President for East Asiaand the Pacific, said in a statement.

Indonesia,which uses coal for most of its electricity, aims to reduce emissions by 32% by2030 and reach net-zero emissions by 2060.

The second project recently approved by the World Bank for Indonesia is a 600million USD grant to help the country curb stunning in children’s growth.

According toa government survey issued in January, about 21% of Indonesian children underfive had stunted growth in 2022, about 4.5 million children.

Indonesian governmentaims to lower the percentage to 14% by 2024./.

VNA
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