Jakarta - The Indonesian and United States governments have completed the process of transferring debt worth 35 million US dollars (around Rp573 billion) on January 15, 2025 for coral reef conservation and protection activities in Indonesia.
In a statement received in Jakarta, Saturday, the Director of Ecosystem Conservation and Aquatic Biota, Ministry of Maritime Affairs and Fisheries (KKP) M. Firdaus Agung Kunto Kurniawan explained that the debt transfer process had been ongoing for several years and was then agreed upon in July 2024.
According to him, the use of funds from the debt transfer will be focused on supporting the protection and conservation of coral reef ecosystems in the Bird's Head Seascape and the Sunda Banda Sea.
"These two stretches were chosen because they are included in the world's coral triangle . This is an area with high biodiversity value. Several studies have stated that almost 75 percent of the world's coral reef species are in this coral triangle area," he explained.
The debt transfer agreement was made through the role of two international non-profit conservation organizations, namely The Nature Conservancy (TNC) and Conservancy International (CI). Both organizations have partners in the Indonesian region, namely the Nusantara Nature Conservation Foundation (YKAN) and the Indonesian Horizon Conservation Foundation.