Joe Biden Announces $20 Billion Deal to Help Indonesia Move Away from Coal

President Joe Biden announced Tuesday his $20 billion plan to help Indonesia move away from coal-powered energy and toward clean energy sources.

“We’re mobilizing $20 billion to support Indonesia’s efforts to reduce emissions and expand renewable energy,” Biden said during his announcement at the G20 summit of world leaders in Indonesia.

The United States is not fronting the entire cost, as it is joined by international partners, business groups, and investment groups.

Biden personally thanked the Glasgow Financial Alliance for Net Zero for working on the project, praising “my friend” Mike Bloomberg who serves as the cochair of the organization.

“That $20 billion from partner governments and some of the world’s leading financial institutions will accelerate an ambitious energy transition that has a global impact,” Biden said.

He noted that the investment in Indonesia was part of a goal by the Partnership for Global Infrastructure and Investment launched in June to mobilize $600 billion in five years for global infrastructure projects.

“This is something that we have an obligation to do, it seems to me, to deal with those nations that are not the primary cause of many of our problems, but are now left with a great deal of difficulty,” he said.

Biden previously expressed his desire to end coal power plants during a campaign speech in California before the midterm elections.

“We’re going to be shutting these plants down all across America and having wind and solar,” he said.