Read More: ADB to double funds for Indonesia
According to an article published by Jakarta Post on August 21, 2020, the Asian Development Bank (ADB) has pledged to double its loan commitments to Indonesia in order to support the country’s economic recovery. In previous years, Indonesia received between USD 1 billion and USD 2 billion annually, mainly for energy-related infrastructure projects.
ADB Country Director Winfried Wicklein encourages the government to step up the investments in renewable energy as a key part of economic recovery plans. ADB is particularly supportive of geothermal power projects in the country, considering it an important sector for job creation and fostering green growth. Indonesia is reported to hold the world’s largest known geothermal reserves but exploited less than 9% of its total 23.9 GW of geothermal potential last year.