The Government of Indonesia has plans to establish the country's first municipal bond issuance program. This is to help raise funds for infrastructure and other development expenditures at subnational government level. This will be piloted by DKI Jakarta and Central Java. Another priority initiative is the introduction of new infrastructure financing products in support of private sector investment in infrastructure through the state-owned infrastructure financing company, PT Sarana Multi Infrastruktur (PT SMI) as well as the Indonesia Infrastructure Facility (IIF) and the Indonesia Infrastructure Guarantee Fund (IIGF).
| Project Name | Sustainable Infrastructure Assistance Program - Municipal Bond Issuance and Infrastructure Finance (Subproject 16) | ||||||||
| Project Number | 46380-035 | ||||||||
| Country | Indonesia |
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| Project Status | Closed | ||||||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth Regional integration |
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| Drivers of Change | Governance and capacity development Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Finance / Infrastructure finance and investment funds - Money and capital markets |
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| Gender Equity and Mainstreaming | No gender elements | ||||||||
| Description | The Government of Indonesia has plans to establish the country's first municipal bond issuance program. This is to help raise funds for infrastructure and other development expenditures at subnational government level. This will be piloted by DKI Jakarta and Central Java. Another priority initiative is the introduction of new infrastructure financing products in support of private sector investment in infrastructure through the state-owned infrastructure financing company, PT Sarana Multi Infrastruktur (PT SMI) as well as the Indonesia Infrastructure Facility (IIF) and the Indonesia Infrastructure Guarantee Fund (IIGF). | ||||||||
| Project Rationale and Linkage to Country/Regional Strategy | Inadequate infrastructure, due in large part to underinvestment in the past, is a key constraint to higher and more inclusive growth in Indonesia. Recognizing this, the Government has embarked on an ambitious infrastructure development agenda comprising significant increases in public sector spending in infrastructure financing as well as policy and institutional reforms, to create an enabling environment for PPPs and private sector investment more generally. | ||||||||
| Impact | Infrastructure and connectivity sectors developed, and private sector participation encouraged. | ||||||||
| Project Outcome | |
|---|---|
| Description of Outcome | Private sector participation in innovative infrastructure financing facilitated |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | 1. Preparatory activities towards Indonesia's first ever municipal bond issuance completed. 2. Municipal funding plan established. 3. Innovative infrastructure financing strategy adopted. |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Ainabe, Benita |
| Responsible ADB Department | Southeast Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
| Executing Agencies |
Coordinating Ministry for Economic Affairs also known as Kementerian Koordinator Bidang Perekonomian (KKBP) 2nd Floor, Jl Lapangan Banteng Timur 2-4 Jakarta Pusat 10710 |
| Timetable | |
|---|---|
| Concept Clearance | - |
| Fact Finding | 02 Jul 2018 to 02 Jul 2018 |
| MRM | - |
| Approval | 15 Oct 2018 |
| Last Review Mission | - |
| Last PDS Update | 23 Oct 2018 |
TA 9615-INO
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 15 Oct 2018 | 15 Oct 2018 | 15 Oct 2018 | 30 Jun 2019 | 31 Dec 2019 | - |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 0.00 | 700,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 700,000.00 | 15 Oct 2018 | 324,784.70 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| Sustainable Infrastructure Assistance Program Phase I - Municipal Bond Issuance and Infrastructure Finance (Subproject 16): Technical Assistance Subproject Report | Technical Assistance Reports | Oct 2018 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
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Tenders
| Tender Title | Type | Status | Posting Date | Deadline |
|---|---|---|---|---|
| Project Manager for Feasibility Study of Agricultural Tourism and Educational Park Project | Individual - Consulting | Closed | 12 Jan 2019 | 18 Jan 2019 |
| Partial Credit Guarantee Specialist | Individual - Consulting | Closed | 11 Jan 2019 | 17 Jan 2019 |
| Municipal Bond Finance Specialist | Individual - Consulting | Closed | 08 Jan 2019 | 14 Jan 2019 |
| International Partial Credit Guarantee Specialist | Individual - Consulting | Closed | 25 Oct 2018 | 31 Oct 2018 |
| Partial Credit Guarantee Expert | Individual - Consulting | Closed | 27 Jul 2018 | 02 Aug 2018 |
| Takeout Finance Specialist | Individual - Consulting | Closed | 27 Jul 2018 | 02 Aug 2018 |
| Partial Credit Guarantee Specialist | Individual - Consulting | Closed | 27 Jul 2018 | 02 Aug 2018 |
Contracts Awarded
No contracts awarded for this project were found
Procurement Plan
None currently available.