Indonesia granted $1.1B in loans for energy projects
Indonesia has been granted two loans by the Asian Development Bank (ADB) totalling up to $1.1 billion to strengthen and diversify its energy sector.
The first is a $500 million policy-based loan for the Sustainable and Inclusive Energy Program, and —the second is a $600 million results-based loan to the State Electricity Corporation (PLN), aimed to strengthen and develop the power distribution network in Eastern Indonesia, reports The Financial.
With this funding, PLN will run a series of investment programs to enhance people’s access to sustainable and modern energy services, with a focus on developing the eastern part of the country as a new growth hub.
Source: The Financial