Indonesia has signed deals with international lenders and major economies that will bring billions of dollars in funding to help the country increase its use of renewable energy.

Fuel prices have increased by about 30% across Indonesia after the government reduced some of the costly subsidies that have kept inflation in Southeast Asia’s largest economy among the world’s lowest.

Financial leaders of the Group of 20 richest and biggest economies agreed on the need to jointly tackle global ills such as inflation and food crises, but failed to bridge differences over the war in Ukraine.

Top financial officials from the Group of 20 leading rich and developing nations are meeting on the Indonesian island of Bali seeking strategies to counter the repercussions from the war in Ukraine, inflation and other global crises.

Indonesian President Joko Widodo told financial leaders of the Group of 20 industrial economies that countries must avoid tensions and cooperate to support a recovery from the pandemic.