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Indonesia may reap significant benefits if the country can fully utilize its services potential, but the government must first ease restrictions and enact sweeping policy reforms to actually realize it, World Bank said.
Indonesia is expected to conclude negotiations on a pilot coal-fired power plant retirement program before the United Nations’ COP28 climate conference in Dubai, United Arab Emirates, according to the Energy and Mineral Resources Ministry.
The ADB's "energy transition mechanism" (ETM) makes use of private and public capital to refinance investments in coal-fired power, allowing power purchase agreements to be shortened and plants to be shut as much as a decade earlier than planned.
The Asian Development Bank (ADB) has signed a deal for a US$44.2 million blue loan for PT ALBA Tridi Plastics Recycling Indonesia, the Indonesian subsidiary of ALBA Group Asia, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
The Asian Development Bank raised its 2023 growth forecast for developing Asia on Tuesday, after China's abrupt loosening of COVID-19 restrictions and reopening of its borders brightened the region's prospects.
