IFC to Support RI's Renewable Energy Sector

Dian Ihsan Siregar    •    14 Maret 2018 16:38 WIB
indonesian economy (en)
IFC to Support RI's Renewable Energy Sector
Illustration (Photo: MI/Furqon)

Jakarta: The International Finance Corporation (IFC) will allocate up to $1 billion for the renewable energy industry in Indonesia this year.

"The number is different each year," said IFC country manager for Indonesia, Malaysia and Timor Leste Azam Khan at Dharmawangsa Hotel on Wednesday afternoon.

The international financial insitution will coordinate with government agencies to implement their programs. It will also cooperate with private companies to reduce financial risks.

Globally, the member of the World Bank group has spent $18.3 billion for sustainable energy projects. In addition, it also has gathered $11 billion from other investors.

"We appreciate the renewable energy development in the country," he added.