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 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
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
Sector / Subsector

Finance / Infrastructure finance and investment funds

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

Indonesia's SDGs achieved, and climate change commitments accelerated, through greater flow of investments in bankable GSIPs (Indonesia's First Nationally Determined Contribution)

Project Outcome
Description of Outcome

Private, institutional and commercial (PIC) investments catalyzed and blended with public sector funds to finance green and SDG-impacting subprojects, with a clear climate resilience impact created

Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Green and SDG-impacting infrastructure projects (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 423.00 Cumulative Contract Awards
ADB 150.00 05 Mar 2024 33.81 0.00 23%
Counterpart 273.00 Cumulative Disbursements
Cofinancing 0.00 05 Mar 2024 33.81 0.00 23%

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 05 Mar 2024 74,482.00

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.

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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

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.

Tenders

Tender Title Type Status Posting Date Deadline
International Green and SDG Framework Expert Individual - Consulting Closed
International Monitoring, Evaluation, Reporting and Financial Management Expert Individual - Consulting Closed
National Green and SDG Framework Expert Individual - Consulting Closed
National Monitoring, Evaluation, Reporting and Financial Management Expert Individual - Consulting Closed

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.