ADB approves $500 million loan

The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support Indonesia’s shift towards sustainable energy. This loan, part of the Affordable and Sustainable Energy Transition Program, aligns with Indonesia’s goal to meet its enhanced nationally determined contribution and reach net zero power emissions by 2050. This first tranche of a two-part program aims to facilitate the country’s transition from fossil fuels to cleaner energy by developing a regulatory framework, improving sector…