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Indonesia: Regional Infrastructure Development Fund

SUMMARY

STATUS
Approved
MEMBER
Indonesia
SECTOR
Financial Institution
E&S CATEGORY
FI
PROJECT NUMBER
000012

FINANCING

PROJECT TYPE
Cofinanced
APPROVED FUNDING
USD100 million
FINANCING TYPE
Sovereign

TIMELINE

LATEST FIELD VISIT
November 4-29, 2019
CONCEPT REVIEW
November 14, 2016
APPRAISAL REVIEW/FINAL REVIEW
December 12, 2016
FINANCING APPROVAL
March 22, 2017

OBJECTIVE

The objective is to support the structuring and operationalization of the Regional Infrastructure Development Fund (RIDF) as a financial intermediary, which lends directly to the subnational governments.  Through the Project, it is expected that the subnational governments will be able to address their critical infrastructure needs more effectively and overcome annual funding constraints with the dedicated funding available through the RIDF.

DESCRIPTION

The Regional Infrastructure Development Fund will finance investments and provide technical assistance in thematic areas including, but not limited to: urban transport, urban water supply and sanitation, drainage, flood and hazard risk, solid waste management and slum upgrading and affordable housing.

PROJECT FINANCING

For more information about project financing, please review the project summary.

ENVIRONMENTAL AND SOCIAL INFORMATION

The Bank has decided to use the World Bank’s (WB) Environmental and Social Safeguard Policies (Safeguard Policies) since (i) they are consistent with AIIB’s Articles of Agreement and materially consistent with the provisions of AIIB’s Environmental and Social Policy and relevant Environmental and Social Standards; and (ii) the monitoring procedures that the WB has in place to ascertain compliance with its Safeguard Policies are appropriate for the project. Under the WB’s Safeguard Policies, the project has been assigned Category FI, as it involves channeling project funds through a financial intermediary, PT. SMI. PT. SMI will assess and categorize the subprojects according to the WB’s Safeguard Policies. The Environmental and Social Management Framework and supporting safeguards documents prepared for the Project have been disclosed and posted on the following WB website: http://documents.worldbank.org/curated/en/453751478186707627/pdf/SFG2269-REVISED-EAP154947-Box396325B-PUBLIC-Disclosed-11-3-2016.pdf.

PROJECT TEAM LEADER

Sangmoo Kim

Senior Investment Operations Specialist (Urban)

sangmoo.kim@aiib.org

 

BORROWER

Scenaider C.H. Siahaan

Director of Loans and Grants, Directorate General of Budget Financing and Risk Management
Ministry of Finance
Republic of Indonesia

direktoratph@kemenkeu.go.id

 

IMPLEMENTING ENTITY

Emma Sri Martini

President Director, PT. SMI

emma@ptsmi.co.id

 

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