June 7

Asian Development Bank Signs $44.2 Million Blue Loan With ALBA to Reduce Ocean Plastic Waste in Indonesia

The Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, an ALBA Group Asia company, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.

ADB and the Leading Asia’s Private Infrastructure Fund (LEAP) will each provide $22.1 million in funding for the project. Blue loans are financing instruments that aim to safeguard access to clean water, protect underwater environments, and invest in a sustainable water economy.

Photo courtesy of Naja Bertolt Jensen.

Source: Asian Development Bank (link opens in a new window)

Environment, Technology, WASH
blue economy, climate finance, infrastructure, recycling, waste, water