WB approves U$4 million grant for geothermal project in Indonesia

The World Bank`s board of executive directors has approved a US$4-million GEF (Global Environment Facility) Trust Fund Grant for a geothermal power generation development project in Indonesia.

The geothermal power generation development project aims to promote the expansion of economic and environmentally friendly geothermal power generation in the country, and to reduce Carbon dioxide (CO2) emissions from the power system, according to the bank`s official website.

There are four components to the project which was approved on May 29, 2008.

The first component is the policy framework for scaling-up the development of geothermal power. The second component is transactions management for mobilizing investments in geothermal power generation. The third component is geothermal sector technical capacity building. Finally, the fourth component is project management assistance. (godang)