IIF A&B Loan (IFC-34837)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Indonesia
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
Bank Risk Rating
FI
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 21, 2014
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
INDONESIA INFRASTRUCTURE FINANCE, PT
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 6, 2018

Disclosed by Bank Apr 17, 2014


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Project 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

- 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
  • International Finance Corporation (IFC)

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

Private Actors

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

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/