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Rashid Kamau

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Asian Development Bank

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ADB authorizes $500 million financing for Indonesia's energy transition initiatives

The Asian Development Bank (ADB) has approved a $500 million loan to support Indonesia's efforts to transition toward cleaner energy sources. This funding is part of Indonesia's broader goal to shift from coal dependence to renewable energy as part of its energy transition strategy. The loan is likely to help with critical reforms aimed at promoting renewable energy, enhancing energy efficiency, and reducing greenhouse gas emissions.
The funding aligns with Indonesia's commitments to reduce emissions as part of the Paris Agreement, with a target of reaching net-zero emissions by 2060 or sooner. It also reflects ADB's ongoing efforts to assist Southeast Asian nations in achieving sustainable development goals and fighting climate change.
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https://www.reuters.com/sustainability/climate-energy/adb-approves-500-mln-loan-indonesias-energy-transition-efforts-2024-09-20/



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