World Bank Approves Funding for Clean Energy and Health

The World Bank has approved a USD 1.14-billion project to expand access to cleaner electricity in Indonesia, for which it will provide USD 500-million in financial support, and USD 600-million toward a project to improve childhood nutrition, according to reporting from Reuters.

The electricity project will connect about 2-million people to the electrical grid in eastern Indonesia, increase solar power investment and help Indonesia’s state utility Perusahaan Listrik Negara (PLN) improve its capacity to manage energy transition, the World Bank said in a statement.

Reuters say it will be co-funded by the World Bank, the private sector and PLN and includes funding from Canada Clean Energy and Forest Climate Facility and the Clean Technology Fund.

The project “will mobilise private sector finance for Indonesia’s energy transition and help communities adapt to climate change,” World Bank Vice President for East Asia and the Pacific, Manuela V. Ferro, said in a statement.

Indonesia, which uses coal for most of its electricity, aims to slash emissions by 32-percent by 2030 and reach net-zero emissions by 2060.

Separately, the World Bank said it had approved USD 600 million in financing toward Indonesia’s efforts to curb stunting in children’s growth, a form of malnutrition, say Reuters.

About 21-percent of Indonesian children under five had stunted growth in 2022, about 4.5-million children, according to a government survey issued in January.

Indonesian President Joko Widodo has said the country aims to lower the percentage to 14-perecent in 2024.

Source: Reuters

Photo by Kindel Media

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