Quality Infrastructure Preparation and Transaction

Transcription

1 Quality Infrastructure Preparation and Transaction Tulus Hutagalung Committee for Acceleration of Priority Infrastructure Delivery Tokyo, 13 th August 2018

2 Indonesia Current Project Development Facility Mechanism OBC Preparation Market Sounding Pre- Qualification RFP Contract Signing Financial Close Priority Projects Pre PDF 1. Project prioritization and funding scheme determination by KPPIP 2. If funding scheme is PPP, then OBC will be done by KPPIP 3. KPPIP facilitate GCA proposal for PDF to MoF Other Projects 1. PPP funding scheme determination is done by GCA 2. OBC is prepared by GCA supported by consultants or donor agency 3. After initial investor interest for the project is identified through market sounding, GCA may propose PDF to MoF Provide PDF for FBC completion PDF by MoF PPP Unit Processig VGF application Processiong guarantee application Provide PDF for transaction advisory

3 Scope of Project Development Facility Project Preparation For Priority Projects, PDF will be given once KPPIP confirmed that the project have fulfilled all the criteria (including OBC) For non priority projects, PDF will be given once the GC have proven project feasibility and attractiveness through OBC and market sounding Type of activities funded through PDF are FBC preparation or OBC supporting study/document preparation Transaction Advisory PDF will be given for the transaction phase Type of activities funded through PDF are assistance for PQ, bidders meeting, lenders meeting, Reuest for Proposal, etc. After the PDF is granted by Minister of Finance, the it will be carried forward by Directorate of Management of Govt Support and Infrastructure Financing (PPP Unit) through assignment to State Owned Enterprise having capabilities in infrastructure preparation and transaction (usually PT SMI)

4 MoF provides Viability Gap Fund (VGF) facility to attract investor interest to invest in infrastructure project that is not financially feasible Presidential Reg. No. 38/2015: 1 Legal Basis This Presidential Reg. stipulates that GCA can provide VGF to the implementing Business Entity in order to obtain the expected investment return (capital, operational cost, and profit for a certain period). VGF can only be provided to PPP project which has social interests and benefits. 2 Implementation To Date MoF Reg. No. 143/2013: This MoF Reg. regulates the VGF granting mechanism for partial construction of PPP project in infrastructure provision Approval of VGF has been given to the following projects: 2016: Umbulan Water Supply In the form of partial construction, approval has been given to the following Toll Road projects: No. Nama Jalan Tol PPJT 1. Ngawi Kertosono Solo Ngawi Semarang Solo Balikpapan Samarinda : Lampung Water Supply No. Nama Jalan Tol PPJT 5. Manado Bitung Medan - Kuala Namu - Tebing Tinggi Cileunyi - Sumedang Dawuan Tebing Tinggi Parapat

5 For the Land Acquisition issues, LMAN was established in 2015 and has disbursed up to IDR 20.8 Trillion (April 2018) through bridging finance scheme for toll road projects LMAN was established in Dec 2015 through the issuance of MoF Reg. 219/2015 concerning State Assets Management In 2016, BLU LMAN was mandated to provide land acquisition fund for all National Strategic Projects through the issuance of MoF Reg. 21/2017 concerning land acquisition financing guideline for PSN There two scheme of Land Funding: Direct Payment and Bridging Fund scheme Key Advantages Unutilized fund can be allocated for the following year Non-project-specific land acquisition fund allocation. Unused allocated fund can flexibly be made available for the other project Land acquisition fund for PSN projects is managed under one agency Implementation Progress (Up to April 2018, LMAN has disbursed up to IDR 20.8 Trillion Cumulative Disbursement (IDR Billion) Batch Bridging Fund Reimbursement IDR IDR % Batch 1 (2016) 12,4 T 12,1 T 97,7% Batch 2 (2016) 978,9 B 666,7 B 68,1% Batch 1 (2017) 10,52 T 8,04 T 76.42% Bridging Fund scheme is not registered as government debt since LMAN will be reimburse the bridging fund as soon as the state budget spending allocation ready to be disbursed and the reimbursement documents are completed

6 THANK YOU KPPIP Menara Merdeka, 8 th floor Jl Budi Kemuliaan I No 2, Jakarta sekretariat@kppip.go.id Landline :