GoTo EN (IFC-47627)

  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
  • Indonesia
  • Singapore
  • Vietnam
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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
Mar 31, 2023
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.
PT GoTo Gojek Tokopedia Tbk
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 125.00 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)
$ 150.00 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 25, 2023

Disclosed by Bank Oct 3, 2023

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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.

As stated by the IFC, the Project consists of an up to US$150 million equity linked notes issuance whose proceeds will support PT GoTo Gojek Tokopedia Tbk (GoTo or Company) of which it is proposed that IFC invests up to US$125 million as an anchor investor.The proceeds will be utilized to strengthen and grow the Company’s offering across its three business segments including e-commerce, on-demand services (transport and food delivery) and financial solutions, and further promote the unique integrated technology solutions business model of GoTo.

The company has fulfilment and FMCG distribution warehouses in Bekasi, Cawang, and Pulo Gadung.

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

As stated by the IFC, PT GoTo Gojek Tokopedia Tbk (GoTo) is a tech-enabled digital platform offering e-commerce, mobility, and financial services, operating in three southeast Asian countries, including Indonesia, Singapore, and Vietnam.

GoTo is a digital ecosystem, with the operations divided into three main categories: i) On-demand Services, such as Gojek motorbike ride-hail services; ii) E-commerce through Tokopedia; iii) GoTo Financial, a Financial Technology Service. GoTo has 69 subsidiaries and 25 associate companies (both Indonesian and offshore) with ~2.6 million ride-hail drivers/partners and operates five fulfillment warehouses in Indonesia, eight Fast-Moving Consumer Goods distribution hubs, and 66 offices across Southeast Asia.

GoTo’s subsidiary, PT Swift Logistics Solutions, operates the warehouses and eight food distribution hubs with support from TitipAja (part of PT Adi Sarana Armada, an existing IFC client #42548 GoTo joint ventures (JV) include Electrum, for developing 2-wheel electric vehicle manufacturing, and distribution, with battery charging infrastructure.

GoTo is a listed company with a diversified shareholding. GoTo’s senior management and founders has majority voting control: (i) Andre Soelistyo (Co-Founder); (ii) Kevin Bryan Aluwi (Co-Founder of Gojek); (iii) William Tanuwijaya (Commissioner / Co-Founder of Tokopedia); and (iv) Melissa Siska Juminto – (President, e-Commerce), who are all Series B shareholders. Under GoTo’s dual-class voting structure, the holders of Series A shares and Series B shares have the same rights with the exception being that of voting rights (each Series A and B shares having 1 and 30 votes respectively).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PT GoTo Gojek Tokopedia Tbk Client Industry and Trade

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.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

Client - PT GoTo Gojek Tokopedia TBK:

Pablo Malay - Chief Corporate Officer
Phone: +62 (0) 21 29101072
Address: Gedung Pasaraya Blok M, Gedung B. LT 6 & 7, Jl. Iskandarsyah II No. 2, Melawai, Kebayoran BaruJakarta Selatan, DKI Jakarta 12160


You can submit a request for information disclosure at:

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.


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 You can learn more about the CAO and how to file a complaint at

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