US and Japan-led climate pact set to offer Indonesia US$15 billion

The deal would enable Indonesia to accelerate efforts to shutter excess fossil fuel generation capacity and limit its pipeline of coal power projects. - AFP

JAKARTA, Nov 11 (Bloomberg): The US, Japan and other countries will offer a climate finance deal worth as much as $20 billion to help Indonesia shift its coal-dominated power grid away from the polluting fossil fuel.

Details of an agreement will be announced during the Group of 20 meetings in Bali next week after talks between US President Joe Biden and Indonesian President Joko Widodo, Coordinating Maritime Affairs and Investment Minister Luhut Panjaitan said Friday. He confirmed an earlier Bloomberg News report that the deal will be at least $15 billion.