Indonesia Infrastructure Guarantee Fund (IIGF) -- the Indonesian Ministry of Finance's Special Mission Vehicles, received the Asia Infrastructure Award for "PPP Agency of The Year 2019" with a category of Institution Award. The award has been granted by The Asset, an Asia's financial service integrated multi-media company.
It has strengthened IIGF's position as the sole single window policy for providing government guarantees for Public Private Partnership (PPP) projects in Asia, expected to boost a greater confidence to fund the national infrastructure projects, as stated by the President Director of IIGF, Armand Hermawan at the "The Asset Triple A Asia Infrastructure Awards 2019" ceremony in Singapore.
"We acknowledge the great efforts exerted by the IIGF executives, Ministry of Finance for their continued support as shareholders, and our stakeholders. This award encourages us to succeed the Indonesia's infrastructure development at an accelerated pace," said Armand. With the provision of guarantees to around 22 PPP projects for toll roads, transportation, drinking water, electricity, and telecommunications, Indonesia has constructed a successful PPP market in the national infrastructure funding.
Honoring the outstanding achievement, Indonesian Minister of Finance, Sri Mulyani Indrawati remarked, "The award scoops an international recognition for the IIGF's contribution. Deploying its strategic initiatives, now the PPP scheme can be implemented by the government and accepted by investors. We support PPP to engage in the infrastructure financing with the scheme. Thus, through IIGF, the financing gap in the state budget of revenues and expenditures (APBN) will be overcome."
The Minister added that IIGF has continuously assisted contracting agency in the project development facility (PDF), ensuring proper preparation and transaction to meet market needs. Through an active collaboration between PPP units and related institutions in the IIGF, this resolves any concerns from the agency and investors.
"The Asset Triple A Asia Infrastructure Awards 2019" was part of a panel discussion on "The 4th Asia Infrastructure Finance Leaders Dialogue," attended by international banking institutions and investment companies. The IIGF's President Director presented as a speaker at a panel session "Infrastructure Projects in Asia: Looking Back and Looking Ahead," moderated by The Asset's Managing Editor.
IIGF has previously received numerous awards, including SWA Magazine's "The Best State-Owned Company 2018," Asian Risk CMR's "The Best Risk Asian Award 2018," and the Corporate Governance Perception Index's "The Trusted Company 2018."
PT PENJAMINAN INFRASTRUKTUR INDONESIA (PERSERO) / INDONESIA INFRASTRUCTURE GUARANTEE FUND (IIGF)
The Indonesia Infrastructure Guarantee Fund (Persero) is the sole Ministry of Finance's Special Mission Vehicle (SMV) which is responsible for providing government guarantees for the Public Private Partnership (PPP) scheme project. IIGF provides guarantee on state-owned loans to multilateral institutions, including PT ITDC for the Mandalika Special Economic Zone Project, and assists in Project Development Facility for 5 PPP infrastructure projects in the health, road and transportation.
In June 2019, IIGF has enacted guarantees to 22 PPP projects from 5 sectors, including 11 Toll Road Projects (Batang - Semarang, Balikpapan - Samarinda, Pandaan - Malang, Manado - Bitung, Jakarta - Cikampek II Elevated, Krian - Legundi - Bunder - Manyar, Cileunyi - Sumedang - Dawuan, Serang - Panimbang, Probolinggo - Banyuwangi and Jakarta - Cikampek II South Side), 4 Telecommunications Projects (Western, Central and Eastern Palapa Ring and Multifunctional Satellite), 1 Electricity Project (Batang), 3 Drinking Water Projects (Umbulan, Bandar Lampung, and West Semarang) and 1 Transportation / Railway Project (Makassar - Parepare Railway). IIGF provides guarantees to 1 Non-PPP Project, the Mandalika Special Economic Zone.
