Asian Dev Bank approves $150m loan for Indonesia’s green recovery

JAKARTA: The Asian Development Bank (AfDB) has provided a $150 million loan to finance a facility that can help Indonesia’s economic recovery.

According to local media, the One Stop Funding Facility for the Sustainable Development Goals in Indonesia (SIO-GFF) will help Indonesia achieve the Sustainable Development Goals (SDGs) by catalyzing public and private financing to promote development projects. green and sustainable infrastructure. The SIO-GFF, which is the first of its kind in Southeast Asia, aspires to fund at least ten projects, with a minimum of 70% of the funding going to green infrastructure and the rest to the SDGs.

According to Anouj Mehta, Head of the AfDB’s Green and Innovative Finance Unit for Southeast Asia, who said on Wednesday that this facility will increase sustainable infrastructure development and accelerate Indonesia’s recovery from the Covid-19 pandemic by raising capital and creating jobs.

According to AfDB Senior Financial Sector Specialist Benita Ainabe, SIO-GFF will help Indonesia focus on climate-resilient infrastructure as it recovers from the Covid-19 pandemic with a unique financing model which includes global green standards. “We intend to extend this approach to other countries in the region based on our experience in Indonesia,” she added.

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