Concerns raised over government plan to shift US$13.2 B to Himbara for fossil fuel financing

A proposal by the government, led by Finance Minister Purbaya Yudhi Sadewa, to move Rp200 trillion (US$13.2 billion) from the state’s reserves held by the Indonesian Central Bank (BI) to the State-Owned Banks Association (Himbara) has sparked concern among economic experts and environmental advocates.