Atma Jaya Uni (IFC-36222)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Greater Jakarta area
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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 16, 2016
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
YAYASAN ATMA JAYA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 64.00 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)
$ 64.00 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 Oct 13, 2018

Disclosed by Bank Apr 13, 2016

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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.

IFC is considering an investment, in the form of a corporate A loan of up to US$10 million equivalent in Indonesian rupiah, in Atma Jaya Foundation ("Atma Jaya" or the "Foundation") to support its expansion program in Indonesia. Atma Jaya was established in 1960 and runs a private university located in Semanggi, central business district area of Jakarta and a teaching hospital located in Pluit district, North of Jakarta.

The program will allow Atma Jaya to add capacity to both the university and hospital operations and will include: (i) greenfield construction of a new campus in Bumi Serpong Damai ("BSD"), a suburb west of Jakarta; (ii) construction of a new hospital wing ("Bonaventura") that is currently underway and refurbishment of the existing medical school and the existing hospital wing in Pluit; and (iii) modernization of the existing campus in Semanggi.

Atma Jaya currently has about 10,100 students and in the first phase of its program implementation, Atma Jaya is expected to add capacity for 4,000 students through the new campus in BSD. Development will be done in stages to accommodate the transfer of students from the existing Semanggi Campus to the BSD campus gradually. It is planned to build up to 25,000 m2 total floor areas with 8 floors maximum building height during the first stage. As tentatively planned this new BSD campus will be launched on Academic year 2017 - 2018.Atma Jaya doesn't provide any accommodation for students and dormitories are not planned to be built, at least, in the first phase of the expansion program to be financed by IFC.

The existing hospital in Pluit has 120 beds currently and the Foundation is planning to expand its capacity up to 300 beds by 2020. The recently constructed Bonaventura hospital wing is a 9-storey building with 28,000 m2 total building area. Floor area varies from 1,800 m2 (3-9 floors) to 4,500 m2 (ground - second floors). The new hospital wing will be commissioned by the middle of 2016 once construction of a new utility building (including waste water treatment facility) is finished. The hospital will provide specialist and subspecialist services including geriatric care and maternal services. In addition, support services (e.g. laboratory, radiology, diagnostic, medical rehabilitation, hemodialysis, pediatric and neonatal intensive care, and operating room) will move from the existing hospital to the new Bonaventura wing.The foundation plans to implement its expansion program gradually and exact scope and implementation plan still to be identified.

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

Contact Information
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Project Contact: Mr. Stefanus Ginting, S.E
Office Address: Jalan Jenderal Sudirman 51 Jakarta 12930, Indonesia
Telephone No.: +62-21-5731982, 573 2608, 570 8817

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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