According to the GCF document, "the proposed Project will provide financing instruments to mitigate resource risk, which is the key barrier to geothermal development in Indonesia. The Project will contribute to Indonesia’s geothermal development goal of adding 5.8 GW by 2026 The Project includes a risk mitigation facility for geothermal resource confirmation (including exploration and delineation/test drilling) and technical assistance. GCF funds will be used to provide soft financing to public developers (GCF soft loan), and to subscribe to convertible bonds issued by private developers (GCF reimbursable grant). Mitigation of the drilling risk is possible because of the level of concessionality and the characteristics of the GCF reimbursable grant."
The World Bank
Peter Johansen, Senior Energy Specialist
1818 H Street NW, Washington DC 20433
ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND
The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at firstname.lastname@example.org.