France Promises 500 Million Euros for Indonesia

jpnn.com, JAKARTA - Indonesia will receive a funding of 500 million euros, equivalent to Rp 8 trillion, from France for energy transition projects.

"In this regard, I really appreciate France's commitment to supporting energy transition projects in Indonesia with 500 million euros funding," said Indonesian Foreign Minister Retno Marsudi after a bilateral meeting with French Foreign Minister Jean Y-ves Le Drian in Jakarta, Wednesday.

Retno said the commitment would be signed between France and the Coordinating Ministry for Maritime Affairs and Investment, state-owned electricity company PLN, and the French Development Agency (AFD).

According to her, the government is seeking collaboration to accelerate the energy transition, which is a priority for Indonesia's G20 Presidency.

"The energy transition is not an option but a necessity. Therefore, collaboration is needed, including through investment and technology transfer," she said.

On the same occasion, French Foreign Minister said he agreed to make this commitment in an effort to support the transition to green and renewable energy.

Previously, the World Bank suggested that Indonesia start accelerating the energy transition by seeking support from the international community, including financial support and knowledge transfer from more experienced countries.

"It is important to attract investment from the private sector and funding from bilateral cooperation. This transition requires a lot of things. Therefore, it is time for Indonesia to get investors interested in facilitating technology transfer and cooperation,” said Satu Kahkonen, Director of the World Bank for Indonesia and Timor Leste.