The World Bank has approved a USD1.14bn project to expand access to cleaner electricity in Indonesia. The project will connect approximately 2 million people in eastern Indonesia to the electrical grid, promote solar power investment, and enhance Indonesia's capacity to manage the energy transition. The World Bank will provide USD500mn in financial support for the project. Additionally, the World Bank will allocate USD600mn towards a project to improve childhood nutrition in Indonesia. The electricity project will be co-funded by the World Bank, the private sector, and Indonesia's state utility, Perusahaan Listrik Negara (PLN). The goal is to mobilize private sector finance for Indonesia's energy transition and support communities in adapting to climate change. Indonesia aims to reduce emissions by 32% by 2030 and achieve net-zero emissions by 2060.

Source: Reuters