Indonesia: Infrastructure Financing Facility Company Project
To increase private investment into infrastructure projects, the Indonesian Infrastructure Financing Facility (IIFF) was conceived in 2007 as a nonbank financial institution to develop and finance commercially viable infrastructure projects in Indonesia, especially PPPs. IIFF’s development was built on experience drawn from India’s Infrastructure Development Financing Company and Infrastructure Leasing and Financial Services. In 2009, the Board of Directors of the Asian Development Bank (ADB) approved a 25-year loan of up to $100 million and an equity investment of up to $40 million in rupiah (Rp) equivalent to contribute to IIFF’s capitalization. The company, PT Indonesia Infrastructure Finance (IIF), was established in 2010. The project completion report (PCR) for the loan was prepared in 2017 and is the subject of this validation. The equity investment is the subject of a separate review and its results are not included in this validation. IED overall assessment: Successful.