infrastructure financing in indonesia - portal ojk · 2015-12-31 · infrastructure financing needs...
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INFRASTRUCTUREFINANCINGININDONESIA:
GovernmentPolicyandTheOpportunity
MinistryofNationalDevelopmentPlanning/
NationalDevelopmentPlanningAgency(BAPPENAS)
13November2015
OUTLINE
• Na$onalMedium‐TermDevelopmentPlan2015‐2019
• IndonesiaInfrastructureDevelopment2015‐2019
• InfrastructureFinancingNeeds2015‐2019
• IslamicFinanceforInfrastructureProjects
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NationalMediumTermDevelopmentPlan20152019
Elabora$onGuidance
Dimensions of Human Development
Education
HealthHousing
Mental/Character
Dimension of MainSector Development
Food Sovereignty
Sovereignty Energy and Electricity
Maritime and Marine
Tourism and Industry
Dimension of Equalization
Among income groups
Among Regions: (1) Village; (2)Borders; (3) Outer; (4) Eastern Region
3 DIMENSIONS OF DEVELOPMENT
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Water, Food, and Energy Security to
support National Security
Streghtening National
Connectivity in Balancing
Development
Urban Mass Transportatioan
System Development
Basic Infrastructure
Improving Private Sector
Role
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INFRASTRUCTURESTRATEGICISSUES(20152019)
INDONESIAINFRASTRUCTUREDEVELOPMENTTARGETS20152019
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Growthofmanufactureindustries(4,7%8,6%)
EconomicgrowthReduceLogis$cCost(23,5%
19,2%)
Damdevelopment(49dams)
MainSectorDevelopment
ImproveIrriga$on
system(7.145ha7.914ha)
100%cleanwateraccess,0%slumarea,100%accesstodecentsanita$on(100‐0‐100)
BasicPublicFacili;es
Reducehousing
backlog(7.65million)
INDONESIAINFRASTRUCTUREDEVELOPMENTTOIMPROVEASEANCONNECTIVITY
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Na$onalCompe$$veness&ASEANConnec$vity
Roadinborderareas
Airport&Seaport
Cross‐borderelectricity
interconnec$on(powergrid)
INFRASTRUCTUREFINANCINGNEEDS20152019
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StateBudget(APBN)Financing
StateBudget2015 USD21billion
StateBudget2016 USD23billion
Note:IDR/USDbasedonRAPBN2016=13.400
(USDbillion)
*)StateBudget(APBN)andRegionalGovernmentBudget(APBD)
SECTOR Government*) SOEs Private Total
Transporta$on 86,8 21,431,6 139,7
Electricity 7,834,733,9 76,4
Energy(Oil&Gas) 0,311,626,9 38,8
Informa$on,Technology,andTelecommunica$on
2,12,117,2 21,4
PublicBasicFacili$es 76,1 3,910,3 90,3
TOTAL 173,1 73,7119,9 366,7
SECTOR0%
Government47%
SOEs20%
Private33%
USD366,7billion
THEROLEOFGOVERNMENT,PRIVATE,ANDSOEsININFRASTRUCTUREFINANCING
Government
Transporta$on(ie.Road&bridge,Railways)
BasicPublicFacili$es(ie.cleanwater&sanita$on,
health,educa$on)
WaterResources&Irriga$on(ie.Dam,irriga$onnetworks)
Private/SOEs
Electricity
Energy(Oil&Gas)
Informa$on,Technology&Communica$on
PublicTransportModes(ie.Bus,Aeroplane)
SpecialEconomicZones(SEZs)Facili$es
PPP/Private
TollRoad
Electricity(ie.Powergenera$on)
WaterSupply(ie.PDAM/MunicipalWaterworks)
Airport&Seaport
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SOURCEOFFINANCING
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APBN/APBD
• TaxRevenue• ForeignLoan(incl:IDB)• GovernmentSecuri$es(incl:Sukuk)
PPP
Private• Bank/Non‐Bank• InternalPrivateFinancing
SourceofFinancingforInfrastructure
SBSN/SUKUK
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SUKUKforinfrastructureprojectsfinancingisknownasProjectBasedSukuk(PBS)accountedforUSD5.9Billion. Thepropor$onofPBSis3.5%totheTotalAllGovernmentSecuri$es/SBN(USD168Billion)
ImprovetheroleofSUKUKtofinanceInfrastructureProjects:
Increasethepropor$onofPBSintheporholioofGovernmentSecuri$es.
IssuetheunderlyingSUKUK(earmarkedforinfrastructureprojectfinancing).
DevelopinfrastructureBondthroughSUKUK/SBSN It is supported by Law no 19/2008 on SBSN in ar$cle 4 : “SBSN is intended to finance State Budget including for
developmentprojects“
*)asof5November2015(exchangerateIDR/USD=13.603)Source:adoptedfromGov’tDebtProfile&Gov’tSecuri$esProfile(MoF)2015
UnderlyingRp.15,1billion(72%)
PBSUSD5,9billion(28%)
2010 2011 2012 2013 2014 2015
SBSN/SUKUK 3,3 5,79,112,415,221,0
Tradable 2,34,06,510,112,718,5
NonTradable(SDHI)
0,91,72,62,32,42,6
OutstandingSUKUK(asofNovember2015)
Country Development Plan (2015-2019) Proposed Areas for IDB Group/ (2015-2019)
IDB Group 10 Year Strategy
Infrastructure/ Sectoral Development • Energy and Power
Sovereignty • Maritime and Marine • Tourism • Industry • Infrastructure
Development to support Special Economic Zone and 14 Industry Area
• SMEs • Food Sovereignty
Human Development • Education • Health • Housing
Regional Development • Rural areas • Border areas • Disadvantaged regions
Economic and Social Infrastructure
Inclusive Social Development
Islamic Finance Sector Development
Capacity Development
Private Sector Development
Cooperation Between Member Countries
DEVELOPMENT COOPERATION: IDB Group
Sustainable Support for Economic and Social Infrastructure
• Transport (roads, railways and ports) • Power (i.e. generation and transmission) • Integrated Community Driven Development (ICDD-Phase IV) and Sanitation • Higher and Islamic Education and TVET • Science and Technology Parks
Strengthen Islamic Finance and Financial Inclusion
• Establish Islamic Microfinance Fund (IMFI)• Establish Inclusive Islamic Financial Board (IIFSB)• Set-up the World Islamic Investment Bank• Support the Creation of OJK Center for Microfinance• Capacity Building in Islamic Banking and Finance• Support for Waqf Development
Enhanced Support for Private Sector Development • Focused Investment in Real Sector • Industry and Business Advisory Services • Development of Special Economic Zones and SMEs • Public Private Partnership (PPP) • Trade Financing and Facilitation • Trade Credit and Political Risk Business Insurance
Support Regional Integration & Reverse Linkages Programs • More Reverse Linkage Programs • Support to Intra-regional Integration • Support to Cross-border Investment
Source:WorkshopMCPSIDBIndonesia
PRIVATE:ENHANCETHEROLEOFPRIVATEFINANCING
SupportSOEsandCorpora$ontoissueRetailSukukprogramelinkedtoinfrastructureprojectbysimplifyingtheissuanceprocess,providingnewincen$ves(offeringtaxincen$ves)andlaunchingCorporateSukukGuaranteeFund.
LaunchnewspecialRetailSukukprogrammeslinkedtospecificinfrastructurethatmaybeofferedforIslamiccommercialBank/BMT
IntroduceIslamicinvestmentbankstofillthegapinthebankingsectorandleadingonmajordevelopmentprojects
Improvecoopera$onwithinvestorfromIslamiccountries(MiddleEast)tofinanceinfrastructureprojectinIndonesia.
LaunchanewSUKUKprogrammedirectedspecificallytowardsreligiousfund(Hajjfund,ZakatandWaqf)thatcanbelinkeddirectlytofinancethegovernment’sinfrastructureprojects.
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