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The Manila based financial intuition Asian Development Bank (ADB) has approved around $300 million loan to help PT Geo Dipa Energi (GDE), an Indonesian state-owned company, expand its geothermal power generation capacity by 110 megawatts in Java.

  • This is a country’s largest electricity grid and a challenging market for the development of renewable energy. ADB will also manage a $35 million loan from the Clean Technology Fund for the project.
  • The Geothermal Power Generation Project will support the construction and commissioning of two geothermal plants at Dieng in Central Java and Patuha in West Java by GDE, a state-owned enterprise focused on geothermal exploration, development, and power generation.
  • Indonesia has the world’s largest geothermal potential, with an estimated 29 gigawatts (GW), and the world’s second-largest installed geothermal capacity of 2.1 GW.
  • ADB, through its private sector finance operations, has had a long-standing interest in Indonesia’s geothermal sector, supporting projects at Muara Laboh, Rantau Dedap, and Sarulla.

    The major deals and financial assistance by ADB are mentioned below:

    May 2020: Asian Development Bank (ADB) has announced a $100 million loan to the Government of Mongolia to mitigate the severe health and economic impacts of the novel coronavirus disease (COVID-19) pandemic.

    May 2020: Asian Development Bank (ADB) has announced an additional $500 million loan to bolster the efforts of the Government of Bangladesh to manage the impact of the novel coronavirus disease (COVID-19) pandemic on the country’s economy and the public health.

    May 2020: Asian Development Bank (ADB) has provided a $25 mn trade loan to the State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase medical supplies as part of the country’s response to the novel coronavirus disease (COVID-19) pandemic.

    April 2020: Asian Development Bank (ADB) has approved approximately $1.5 billion loan to the Government of India to help fund its response to the novel coronavirus disease (COVID-19) pandemic. ADB’s COVID-19 Active Response and Expenditure Support (CARES) Program will contribute directly to the improvement of access to health facilities and care.

    April 2020: Asian Development Bank (ADB) has approved a $200 million loan to support the Philippine government’s effort to provide emergency cash subsidies to weak households amid the COVID-19 pandemic. The financial assistance by ADB will support the government’s emergency subsidy program, which was designed to help vulnerable households get through this very difficult period and avoid falling into poverty.

    April 2020: Asian Development Bank (ADB) has announced approximately $1.5 billion financial support to the Government of Indonesia to alleviate the impact of the novel coronavirus disease (COVID-19) pandemic on public health, and the national economy. Indonesia has been severely affected by the global pandemic.

    April 2020: Asian Development Bank (ADB) has assured Indian government to support with approximately $2.2 billion in its fight against the novel coronavirus disease (COVID-19) pandemic.

    April 2020: Asian Development Bank (ADB) has approved $200,000 as an emergency medical assistance to help the Kyrgyz Republic to fight against coronavirus (COVID-19) pandemic.

    January 2020: Asian Development Bank (ADB) has signed a $37.8 million loan deal with TTC Energy Development Investment Joint Stock Company (TTC Energy) to develop a 50MW photovoltaic solar power plant in Tay Ninh Province in Viet Nam. A supplementary $7.6 million loan was provided by Leading Asia’s Private Infrastructure Fund, which is supported by the Japan International Cooperation Agency.

About The Asian Development Bank
The Asian Development Bank (ADB) is a Manila-based regional development bank formed in 1966 which assists its members by providing loans, grants, technical assistance, and equity investments to promote social and economic development in the region.

ADB is committed to achieving a prosperous, resilient, inclusive, and sustainable Asia and the Pacific region. It empowers people by providing information with a set of principles and exceptions.

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