Fresh Funds from France to Accelerate Indonesia's Energy Transition

By Editorial Team 26/11/2021
More capital for banks
Summary

The French government expressed its commitment to disburse loans up to €520 million to help Indonesia accelerate its transition to renewable energy. Both countries signed a Letter of Intent (LoI) containing a concession loan scheme to develop the Sustainable and Inclusive Energy Program policy, including concession loans to PT Perusahaan Listrik Negara (PLN) for transmission and distribution projects, loans to state-owned banks for mini hydropower projects and other renewable energy, and grants for experts and feasibility studies.

French Foreign Minister Jean-Yves Le Drian said his country is also ready to invest in renewable energy in Indonesia. The transformation and technological innovation in the energy sector is crucial considering Indonesia's various achievements and strategies in the energy sector. "It includes the international agreement of world leaders to reduce carbon emissions during the G20 summit," Le Drian said in a written statement on Thursday.

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