US, Japan-Led Climate Pact Set to Offer Indonesia $15 Billion
- Transition deal to enable nation to exit faster from coal
- Finance deal set to be worth $15 billion to $20 billion
Indonesia’s abundance of thermal coal and large volume of potential power plant projects have long been cited as a barrier to the nation bringing on more capacity in renewables.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
The US, Japan and other countries will offer a climate finance deal worth as much as $20 billion to help Indonesia shift its coal-dominated power grid away from the polluting fossil fuel.
Details of an agreement will be announced during the Group of 20 meetings in Bali next week after talks between US President Joe Biden and Indonesian President Joko Widodo, Coordinating Maritime Affairs and Investment Minister Luhut Panjaitan said Friday. He confirmed an earlier Bloomberg News report that the deal will be at least $15 billion.