Indonesia : Sustainable Development Goals Indonesia One - Green Finance Facility (Phase 1)
The sovereign financial intermediary loan to Indonesia will be onlent to PT Sarana Multi Infrastruktur (PT SMI) for SIO-GFF implementation, to support achievement of the country's sustainable development goals (SDG's) through an innovative transition financing mechanism. The SIO-GFF mechanism will link funds provision to subprojects with clear green - a cross cutting theme across most SDGs - and financial bank-ability targets. Designed as a de-risking facility SIO-GFF aims to leverage ADB and government funds to catalyze a multiple of green funds from private, institutional and commercial sources over time. The project will play a critical role in Indonesia's sustainable economic recovery following the COVID-19 caused pandemic including through specific targeting of post-COVID-19 recovery projects. TA support will provide capacity and implementation support to PT SMI as well help propose future SIO phases and more innovative leveraged finance tools.
Project Details
-
Project Officer
Ainabe, Benita
Sectors Group
Request for information -
Country/Economy
Indonesia -
Sector
- Finance
| Project Name | Sustainable Development Goals Indonesia One - Green Finance Facility (Phase 1) | ||||||||||
| Project Number | 54152-001 | ||||||||||
| Country / Economy | Indonesia |
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| Project Status | Active | ||||||||||
| Project Type / Modality of Assistance | Loan Technical Assistance |
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| Source of Funding / Amount |
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| Operational Priorities | OP2: Accelerating progress in gender equality OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability OP6: Strengthening governance and institutional capacity |
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| Sector / Subsector | Finance / Infrastructure finance and investment funds |
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| Gender | Some gender elements | ||||||||||
| Description | The sovereign financial intermediary loan to Indonesia will be onlent to PT Sarana Multi Infrastruktur (PT SMI) for SIO-GFF implementation, to support achievement of the country's sustainable development goals (SDG's) through an innovative transition financing mechanism. The SIO-GFF mechanism will link funds provision to subprojects with clear green - a cross cutting theme across most SDGs - and financial bank-ability targets. Designed as a de-risking facility SIO-GFF aims to leverage ADB and government funds to catalyze a multiple of green funds from private, institutional and commercial sources over time. The project will play a critical role in Indonesia's sustainable economic recovery following the COVID-19 caused pandemic including through specific targeting of post-COVID-19 recovery projects. TA support will provide capacity and implementation support to PT SMI as well help propose future SIO phases and more innovative leveraged finance tools. | ||||||||||
| Project Rationale and Linkage to Country/Regional Strategy | |||||||||||
| Impact | Achievement of Indonesia's SDG and climate change commitments accelerated, through greater flow of investments in bankable green or SDG-impacting infrastructure projects (GSIPs). (Indonesia's First NDC) |
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| Project Outcome | |
|---|---|
| Description of Outcome | Private, Institutional and Commercial (PIC) investments catalyzed and blended with public sector funds to finance green and SDG subprojects, and create a clear climate resilience impact. |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | SIO-GFF operationalized Green and SDG impacting subprojects (GSIPs) developed and approved for financing. |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Safeguard Categories | |
|---|---|
| Environment | FI |
| Involuntary Resettlement | FI |
| Indigenous Peoples | FI |
| 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 | Sectors Group |
| Responsible ADB Division | Finance Sector Office (SG-FIN) |
| Executing Agencies |
Ministry of Finance Directorate General of Budget Financing and Risk Management |
| Timetable | |
|---|---|
| Concept Clearance | 27 Jul 2020 |
| Fact Finding | 21 Sep 2020 to 23 Sep 2020 |
| MRM | 13 Sep 2021 |
| Approval | 15 Feb 2022 |
| Last Review Mission | - |
| Last PDS Update | 15 Feb 2022 |
Loan 4172-INO
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 15 Feb 2022 | 09 Mar 2022 | 07 Jun 2022 | 31 Jul 2027 | - | - |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 150.13 | Cumulative Contract Awards | |||
| ADB | 150.00 | 08 Nov 2023 | 10.00 | 0.00 | 7% |
| Counterpart | 0.13 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 08 Nov 2023 | 10.00 | 0.00 | 7% |
TA 6906-INO
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 15 Feb 2022 | 15 Feb 2022 | 15 Feb 2022 | 31 May 2024 | - | - |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 375,000.00 | 1,200,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,575,000.00 | 08 Nov 2023 | 14,438.00 |
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.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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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.
| Title | Document Type | Document Date |
|---|---|---|
| Sustainable Development Goal Indonesia One - Green Finance Facility Phase 1: Environmental and Social Management System Arrangement | Environment and Social Management System Arrangements | Jul 2021 |
| Sustainable Development Goal Indonesia One - Green Finance Facility Phase 1: Environmental and Social Management System Arrangement | Environment and Social Management System Arrangements | Jun 2021 |
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
$150 Million ADB Loan to Support Green Recovery, Catalyze Financing Toward SDGs in Indonesia
ADB has approved a $150 million loan for a facility aimed at accelerating Indonesia’s economic recovery from the COVID-19 pandemic and catalyzing public and private funds to support green and bankable infrastructure projects.
Tenders
| Tender Title | Type | Status | Posting Date | Deadline |
|---|---|---|---|---|
| International Green and SDG Framework Expert | Individual - Consulting | Closed | ||
| National Green and SDG Framework Expert | Individual - Consulting | Closed | ||
| National Monitoring, Evaluation, Reporting and Financial Management Expert | Individual - Consulting | Closed | ||
| International Monitoring, Evaluation, Reporting and Financial Management Expert | Individual - Consulting | Closed |
Contracts Awarded
Procurement Plan
None currently available.