Supporting investment in renewable energy and climate

ongoing

The objective of the project is to strengthen the range of PT SMI's financing that directly contributes to the SDGs and to the fight against climate change, in order to promote sustainable and low-carbon growth in Indonesia. To this end, PT SMI has three tools:A credit line of up to USD 150 million to finance "climate" infrastructure projects: mitigation (e.g. small and medium scale renewable energy) and adaptation, in line with IDFC's common recommendations and principles for climate finance.3.6 million euros of technical assistance from an AFD grant (0.6 million) and funds delegated by the European Union (3 million) to build PT SMI's capacity, assist in project identification and analysis, and support its gradual transformation into a universal development bank2 million in investment grants, funded by the EU. These will provide additional financial support to projects with high social or climate impact that would not have been financed without this instrument (3-4 projects planned).