IIF A&B Loan (IFC-34837)

Countries
  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 21, 2014
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
INDONESIA INFRASTRUCTURE FINANCE, PT
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 250.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 7, 2020

Disclosed by Bank Apr 17, 2014

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed project (the “Project”) consists of a senior debt package for up to US$250 million to PT Indonesia Infrastructure Finance (the “Company”) in Indonesia. The Project will support the Company’s lending program for a pipeline of infrastructure projects in Indonesia. The Company is headquartered in Jakarta, Indonesia, and invests in infrastructure projects across Indonesia. Specific geographic locations for the pipeline projects are to be determined.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

- Provision of long-term capital, which is scarce and not readily available in the market for young institutions such as the Company;
- Continued know-how transfer in the areas of Environmental and Social ("E&S") risk management and project finance underwriting;
- Support to the government of Indonesia''s efforts in increasing investment in infrastructure projects, both for increasing urbanization as well as rural integration;
- Improve access for the Indonesian population to infrastructure such as electricity, water, transportation, telecommunications, etc;
- Economic benefits to the country by dividends generated by the infrastructure projects as well as taxes levied to the project companies, as well as indirect impact of additional infrastructure on the overall economy through higher growth and more efficient operations; and
- Job creation at the project company that receives financing from the Company as well as in businesses that provide services to such project company.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed investment consists of:
Up to US$ 30 million of A Loan for IFC’s own account,
Up to US$ 22.5 million of IFC’s Managed Co-Lending Portfolio Program Loan (“MCPP Loan”), and
Up to US$ 197.5 million of B Loan

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

PT Indonesia Infrastructure Finance was established in 2009 with the founding shareholders including PT Sarana Multi Infrastruktur (“SMI”), IFC, Asian Development Bank (“ADB”), and Deutsche Investitions-Und Entwicklungsgesellschaft MBH (“DEG”).

On 1 November 2011, SMBC subscribed newly issued shares of the Company to acquire 14.9% shareholding. In December 2013, the Company conducted rights issuance which changed the shareholding to be: SMI (33.88%), IFC (19.99%), ADB (19.99%), SMBC (14.99%), and DEG (11.24%).

 


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/Project Contact

Contact: Nastantio W. Hadi
PT Indonesia Infrastructure Finance
Address: The Energy Building 15th Floor, Sudirman Central Business District, Lot. 11A
Jl. Jend. Sudirman Kav.52-53 Jakarta 12190 Indonesia
Phone: +62-21-29915060

2/IFC Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E-Mail: Webmaster

3/Access for Project Documentation

Contact: Nastantio W. Hadi
PT Indonesia Infrastructure Finance
Address: The Energy Building 15th Floor, Sudirman Central Business District, Lot. 11A
Jl. Jend. Sudirman Kav.52-53 Jakarta 12190 Indonesia
Phone: +62-21-29915060

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works