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.
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.