Indonesia needs RM7 billion to terminate coal in production

Coal barges are pictured as they queue to be pull along the Mahakam River in Samarinda, East Kalimantan province, Indonesia. - Reuters

JAKARTA (Vietnam, News/ANN): Indonesia needs a grant of about US$1.5 billon (RM7 billion) from the International Partnership Group (IPG), including the US, Japan, Canada, Denmark, the European Union (EU), France, Germany, Italy, Norway and the UK to terminate coal mining and production under the Just Energy Transition Partnership (JETP)'s framework.

Executive director Indonesian Institute for Essential Services Reform (IESR) Fabby Tumiwa said the institute cannot take on debt for energy and coal mining termination programmes. In case of having to take on debt, preferential financial sources must ensure an interest rate of less than 3%.