BI encourages incentives for environmentally friendly industries

25 November 2020 15:09

JAKARTA - Bank Indonesia (BI) encourages incentives for environmentally friendly property industry and motor vehicle industry. This was conveyed by the Senior Deputy Governor of BI, Destry Damayanti, in a virtual seminar in Jakarta on Wednesday (25/11).

She mentioned the incentives were in the form of relaxing the loan-to-value ratio or credit financing-to-value, as well as down payments for battery-based electric motor vehicles. "The green financing policy is to encourage financial industry players to finance sectors that have a minimal impact on environmental damage," she said.

According to her, the International Finance Corporation (IFC) released a data that transition from using polluted energy sources (brown energy) to green energy had the potential to bring green investment in Indonesia up to US$ 458 billion.

Currently, BI is increasing mitigation against climate threats and has adopted environmentally sound policies, including adoption of Sustainable and Responsible Investment in foreign exchange management. (LK/VA)

© 2024 - IDN Financials - All Rights Reserved.