Indonesia: COVID-19 Active Response and Expenditure Support Program (AIIB-000391)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 1, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Indonesia
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 750.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 750.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 25, 2020


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Project Description

According to AIIB website, the project aims to mitigate the adverse impacts of COVID-19 on the health of the Indonesian population as well as on the country’s overall economy by providing budgetary support. The Program aims to enable the GoI to provide urgently needed social expenditures and expand its social assistance programs for the poor and vulnerable to reduce the adverse social and economic impacts of COVID-19. 

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Contact Information

Toshiaki Keicho

Senior Investment Operations Specialist, AIIB

toshiaki.keicho@aiib.org


Mohd Sani Mohd Ismail

Senior Financial Sector Specialist, ADB

msismail@adb.org

 

Scenaider C.H. Siahaan

Director of Loans and Grants, Ministry of Finance

direktoratph@kemenkeu.go.id

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.