PT Indonesia Infrastructure Finance ( PT IIF ) was officially launched on August 9th, 2010 by the Minister of Finance of Republic of Indonesia, Agus D.W. Martowardojo, as part of the government commitment to accelerate infrastructure development in Indonesia.
PT IIF is a private enterprise funded by its founding shareholders comprising of IDR 600 billion from the Government of Indonesia through PT Sarana Multi Infrastruktur (Persero) (PT SMI), IDR 400 billion (equivalent) from Asian Development Bank (ADB), IDR 400 billion (equivalent) from International Finance Corporation (IFC), and IDR 200 billion (equivalent) from DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH.
Going forward, PT IIF welcomes equity participation from other private investors to expand the pool of funds available for infrastructure projects in Indonesia. The World Bank and ADB have also approved loans worth the equivalent of IDR 1 trillion each to PT IIF. The Australian Government provided grant support for preparatory work for PT IIF's establishment.
PT IIF is a non bank financial institution that focuses on providing long term funding for infrastructure projects in Indonesia. As an infrastructure financing company, PT IIF is expected to increase the availability of equity and long term debt, particularly Rupiah, debt, available for private infrastructure investment in Indonesia.
PT IIF will provide funding towards commercially feasible, mainly private, infrastructure projects through debt instruments, equity participation or infrastructure financing guarantee for credit enhancement.
The concept of establishing a specialized infrastructure financing agency was first proposed at the Infrastructure Summit in 2005. Since then, the World Bank, ADB, IFC and DEG have worked closely with the Government of Indonesia to design and create a new, commercially focused agency to revitalize private investment in Indonesian infrastructure. AUSAID has provided important financial support towards the development of the PT IIF business plan.
On March 19 2012, Sumitomo Mitsui Banking Corporation ('SMBC') and PT IIF have signed share subscription agreements for SMBC to subscribe to approximately 14.9% of shares to be issued by IIF, in order to support acceleration of Indonesia`s infrastructure development. SMBC capital support commitment will further increase IIF committed capital to around USD 190 million. On April 3, 2012, SMBC is legally deemed as the new shareholder of IIF.
Board of Director :
|President Director||:||Sukatmo Padmosukarso|
Board of Commissioner :
|President Commissioner||:||Mr. Sofyan A. Djalil|
|Commissioner||:||Mr. Arif Baharudin|
|Commissioner||:||Mr. Robert Olivier Dolk|
|Commissioner||:||Mr. Hans-Juergen Hertel|
|Commissioner||:||Mr. Jemal-Ud-Din Kassum|
|Commissioner||:||Mr. Rajeev Kannan|
Shareholding Structure of PT IIF
Environmental and Social Safeguards Framework (ESSF)