IIF A&B Loan 2 (IFC-37299)

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
Approved
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
Nov 23, 2015
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
PT Indonesia Infrastructure Finance
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Infrastructure
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)
$ 150.00 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 @ IFC website

Updated in EWS Oct 14, 2018

Disclosed by Bank Oct 21, 2015


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Project Description

According to IFC website, the project consists of a senior debt package to PT Indonesia Infrastructure Finance in Indonesia. The Project will support the Company’s lending program for a pipeline of infrastructure projects in Indonesia. The development impact of IFC's investment in the Project is expected to be high given that it will:

1. Support the Government of Indonesia's efforts in increasing investment in infrastructure projects, both for increasing urbanization as well as rural integration;
2. Improve access for the Indonesian population to infrastructure such as electricity, water, transportation, telecommunications, etc.;
3. Continue know-how transfer in the areas of Environmental and Social ("E&S"), risk management and project finance underwriting;
4. Bring economic benefits to the country by dividends generated by the infrastructure projects as well as taxes levied to the project companies;
5. Promote 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)

This project consists of a senior debt package to PT Indonesia Infrastructure Finance. The proposed investment consists of up to USD 15 million of A Loan for IFC’s own account, and up to USD 135 million of B Loan.

Private Actors

The Company was established in January 2010 as a key element of strategic development by the government of Indonesia and a group of multilateral agencies to address the constraints on the flow of private investment in infrastructure.

Shareholders of the Company are PT Sarana Multi Infrastruktur (Persero) (“SMI”) with 30.00%, Asian Development Bank (“ADB”) with 19.99%, Deutsche Investitions-Und Entwicklungsgesellschaft mbH (“DEG”) with 15.12%, Sumitomo Mitsui Banking Corporation (“SMBC”) with 14.90%, and International Finance Corporation (“IFC”) with a 19.99% ownership.

Contact Information

Project Contatcs: Andi Faizal/Nastantio W. Hadi
PT Indonesia Infrastructure Finance
Office Address: The Energy Building 30th Floor, Sudirman Central Business District, Lot. 11A
Jl. Jend. Sudirman Kav.52-53 Jakarta 12190 Indonesia
Phone No.: 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/