Indonesia: Sustainable Development Goals Indonesia One - Green Finance Facility (Phase 1)

Sovereign Project | 54152-001

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
    Southeast Asia Department
    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
Project Status Active
Project Type / Modality of Assistance Loan
Technical Assistance
Source of Funding / Amount
Loan 4172-INO: Sustainable Development Goal Indonesia One - Green Finance Facility Phase 1
Ordinary capital resources US$ 150.00 million
TA 6906-INO: Sustainable Development Goal Indonesia One - Green Finance Facility Phase 1
Financial Sector Development Partnership Special Fund US$ 375,000.00
Government of Australia US$ 1.20 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Finance / Infrastructure finance and investment funds

Gender Equity and Mainstreaming 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)
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 Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Ministry of Finance Directorate General of Budget Financing and Risk Management
Mr. Darsjah
[email protected]
Frans Seda Building
Jln. Dr. Wahidin Raya No. 1
Jakarta 10710, Indonesia
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 31 Mar 2022 31 Jul 2027 - -
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 423.13 Cumulative Contract Awards
ADB 150.00 01 Apr 2022 0.00 0.00 0%
Counterpart 273.13 Cumulative Disbursements
Cofinancing 0.00 01 Apr 2022 0.00 0.00 0%

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 01 Apr 2022 0.00

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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.


Evaluation Documents See also: Independent Evaluation

None currently available.


Related Publications

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Tenders

No tenders for this project were found.


Contracts Awarded

No contracts awarded for this project were found


Procurement Plan

None currently available.