Indonesia Warns $20 Billion Climate Deal Looks Too Expensive
- Southeast Asia’s largest economy is wary of excessive debt
- Most of Indonesia’s electricity comes from coal-fired power
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A $20 billion international effort to accelerate Indonesia’s shift away from coal hinges on the availability of low-cost funding — and Jakarta fears there simply isn’t enough.
Indonesian President Joko Widodo and his US counterpart Joe Biden made headlines last year with their agreement to kick-start the effort to clean up Southeast Asia’s largest economy, a deal known as the Just Energy Transition Partnership and considered a potential model for other cash-poor, coal-dependent countries.