"We have just discussed the beginning of completing the fourth result-based contribution as a form of award of a sign of appreciation for Indonesia that has been able to perform well in reducing deforestation, or REDD+," Indonesian Minister of Environment and Forestry, Siti Nurbaya, stated on Monday.
The minister noted that the meeting with Norwegian Ambassador to Indonesia Rut Kruger Giverin on Monday marked the start of the performance-based funding process, or result-based payment, which is expected to be completed next September, with the funding disbursal estimated in early 2025.
The process carried out is in the form of verification and recalculation of emission reductions, Nurbaya stated.
"For Indonesia, it is not really about the money. The most important thing is Norway acknowledges Indonesia's efforts in its climate mitigation actions," she remarked.
Related news: Indonesia encourages G7 countries to facilitate climate funding
On that occasion, Ambassador Giverin said her side was proud of the collaboration with Indonesia in terms of reducing emissions.
"Indonesia is showing the world its ability in emission reductions by providing a real example to reduce emissions from deforestation. That is something that must be recognized at the global level," she stated.
In October 2022, Norway had paid performance-based funding of US$56 million, or around Rp876 billion, to Indonesia. Payments from Norway to Indonesia, amounting to US$100 million, or Rp156 trillion, were also made in December 2023.
In addition, the third payment was made last January amounting to US$156 million, or around Rp2.4 trillion.
The funding is a follow-up to Indonesia's cooperation with Norway that was signed in 2022.
Related news: Indonesia seeks various funding strategies for 2030 FoLU Net Sink
Translator: Prisca Triferna V, Resinta Sulistiyandari
Editor: Yuni Arisandy Sinaga
Copyright © ANTARA 2024