On 24 November 2022, the ADB Board approved the policy-based loan for the third subprogram under Sustainable and Inclusive Energy Program in Indonesia. The $500 million loan will support the country’s energy sector reforms in ensuring fiscal sustainability and governance, increase private sector investments in clean energy, and promote green recovery from the corona virus (COVID-19) pandemic. Following two earlier subprograms, Subprogram 3 includes reforms in electricity tariffs and targeting subsidies more efficiency by supporting the most vulnerable sectors of the population, including households headed by women. The subprogram also supports the government’s initiatives for promoting renewable energy production with a new pricing mechanism, regulations to promote floating solar, solar rooftop photovoltaic systems, electric vehicles, and energy efficiency standards and measures. Through these reforms, the government adopted renewable energy incentives and expanded energy access to over 99% of the population by 2021, from 84% in 2014. More about this story: $500 Million ADB Loan to Support Indonesia's Energy Sector, Green Recovery