ADB Approves US$100 Million for Low Carbon Growth, Climate Resilience in Indonesia
10 November 2011: The Asian Development Bank (ADB) has approved a US$100 million loan to support the Low Carbon and Resilient Development Program in Indonesia, which the Government has pledged to use towards cutting greenhouse gas (GHG) emissions by 26 percent over business-as-usual by 2020.
ADB's loan aims to build on momentum begun by the Government of Indonesia over the past year and a half via policies including a national action plan to reduce GHG emissions, the establishment of forest management units, a legal timber verification system and developments in geothermal energy. According to the ADB, Indonesia has also improved its climate change forecasting methodology to develop more effective adaptation measures, approved eight strategic plans for river basins to help them manage resources more effectively, and carried out reforms to reduce emissions, develop renewable energy resources, and incorporate climate proofing measures into its development work.
Other contributors to the Low Carbon and Resilient Development Program in Indonesia are the Government of Japan, with US$200 million, and the Government of France, with US$100 million, with total funding now at US$400 million. [ADB Press Release]