The World Bank Implementation Status & Results Report Indonesia's Infrastructure Finance Development (IIFD) - RE (P157490) Indonesia's Infrastructure Finance Development (IIFD) - RE (P157490) EAST ASIA AND PACIFIC | Indonesia | Infrastructure, PPP's & Guarantees Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2016 | Seq No: 5 | ARCHIVED on 26-Jun-2019 | ISR37830 | Implementing Agencies: Ministry of Finance, Ministry of Finance Key Dates Key Project Dates Bank Approval Date: 22-Apr-2016 Effectiveness Date: 25-Apr-2016 Planned Mid Term Review Date: 30-Aug-2019 Actual Mid-Term Review Date: -- Original Closing Date: 31-Dec-2020 Revised Closing Date: 31-Dec-2020 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The Program Development Objectives (PDO) for IIFD is to assist Indonesia in closing its large public infrastructure gap by supporting the flow of private capital into infrastructure development and improving the institutional, legal and regulatory framework to enhance the ability of private capital and public institutions to work together for infrastructure Development. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Pillar 1: Strengthening Agencies:(Cost $2.34 M) Pillar 2: Legal and Regulatory Frameworks:(Cost $0.30 M) Pillar 3: Project Selection, Preparation and Transaction:(Cost $3.65 M) Pillar 4: Inter-Agency Coordination:(Cost $0.74 M) Unallocated:(Cost $1.24 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Low Low Implementation Status and Key Decisions RETF activities is designed to develop, next steps for developing a robust infrastructure and PPP financing market in Indonesia. Among other the RETF aim to develop skills and capacity at the national level (MOF, KPPIP, BAPPENAS, GCAs), improve and clarify legal and regulatory provision to correspond to the operational policy and procedures, improve the quality of project preparation and improve the inter-agency coordination; those aims are implemented through 4 RETF components. 6/26/2019 Page 1 of 5 The World Bank Implementation Status & Results Report Indonesia's Infrastructure Finance Development (IIFD) - RE (P157490) During the 2018 - 2019 RETF of IIFD activities still align in achieving IIFD PDO, it remain focused to increase capacity of government's staff (MOF, BAPPENAS, GCAs): 1. Component 1, MOF held 13 workshops on Project Development facility for GCAs, 11 internal workshops, and about 42 workshops to support GCAs in preparing PPP Project. The New platform of PPP certification program was established (APMG - WB Certification Program), sent 100 government staff for foundation and 50 staff for preparation level. Some training on legal drafting, PPP financial and Finance Modelling, Public procurement and Procurement of Good and services are held for govt officials in 2018. Project Operation Manual (POM) revision are completed taking into account the consideration of State Auditor Office (BPK). 2. Component 2 contributed to the legal and regulation review legal consist of (i) review the PDF criteria and standard, (ii) review the role of MOF in PDF under the old decree and established the new Minister Regulation No. 73/ 2018 on PDF Facility procedure. RETF also reviewed on the VGF governance, and contributed to the establishment of DG regulation No. Per-129/2018, and review the National Procurement Office (LKPP) regulation concerning the procedure on SPV procurement for PPP transactions. 3. Component 3: the MOF PPP Unit contributed to decision and preparation processes (capacity building of PDF framework, VGF, and Guarantee) of 16 projects and resulted to the financial closures. The projects are (1) Manado-Bitung tol road, (2) Balikpapan-Samarinda toll road, (3) Pandaan- Malang toll road, (4) Batang - Semarang toll road, (5) Serpong-Balaraja toll roads, (6) Central Java Power Plant, (7) Fiber Optic of Palapa Ring of Western Package, (8) Umbulan Regional Water Supply, (9) Fiber Optic of Palapa Ring Eastern Package, (10) Fiber Optic of Palapa Ring Eastern Package, (11) Cileunyi - Sumedang - Dawuan Toll road, (12) Jakarta - Cikampek South toll roads, (13) Probolinggo - Banyuwangi toll road, (14) Lampung Water Supply, (15) Regional Solid waste Project of Nambo, (16) West Semarang Water Supply. While about 25 potential projects are being prepared by MOF PPP Unit using the MOF PDF. 4. Component 4: a number of knowledge sharing, coordination meetings among the PPP stake holders, Public Consultations were held during 2018 - 2019, support the high level meeting in PPP Joint Office. Help developed PPP Joint office SOP and overall plan. Through the Component 4 IIFD funded the 2018 Indonesia PPP day in Singapore on January 15, 2019, this event participated by 5 Indonesia Ministers who presented Indonesia investment policies to International investors. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Low Low Macroeconomic Moderate Low Low Sector Strategies and Policies Moderate Low Low Technical Design of Project or Program Moderate Moderate Moderate Institutional Capacity for Implementation and Sustainability Substantial Low Low Fiduciary Moderate Moderate Moderate Environment and Social Moderate Moderate Moderate Stakeholders Moderate Low Low Other Low Low Low Overall Moderate Low Low Results PDO Indicators by Objectives / Outcomes Increase of private and public sector investment in infrastructure, improved financing & regulation IN00722103 6/26/2019 Page 2 of 5 The World Bank Implementation Status & Results Report Indonesia's Infrastructure Finance Development (IIFD) - RE (P157490) ►Support the Government in Private/ PPP investment in infrastructure (Water, Telecom, energy, transportation) as percent of GDP (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.59 0.91 1.13 1.59 Date 30-Sep-2014 11-Dec-2018 08-May-2019 31-Dec-2020 IN00722104 ►Amount of PPP investment in infrastructure (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 327,400,000.00 8,841,458,000.00 8,011,000,000.00 613,900,000.00 Date 30-Sep-2014 11-Dec-2018 08-May-2019 31-Dec-2020 Intermediate Results Indicators by Components Increase of private and public sector investment in infrastructure, improved financing & regulation IN00722105 ►Sucessfully Piloted Initial PPP Projects (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 17.00 17.00 1.00 Date 30-Sep-2014 11-Dec-2018 11-Dec-2018 31-Dec-2020 IN00722141 Number of Competitively Tendered Project (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 17.00 17.00 1.00 Date 21-Apr-2016 11-Dec-2018 11-Dec-2018 31-Dec-2020 IN00722142 ►Fully Functional PPP Unit Established Including Relevant Decision Making Authority for PPP Implementation (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 21.00 21.00 7.00 Date 30-Sep-2014 11-Dec-2018 11-Dec-2018 31-Dec-2020 IN00722143 Frequency of Advise on PPP Projects Development provided to the KPPIP and GCA (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 21.00 49.00 7.00 Date 25-Apr-2016 11-Dec-2018 31-May-2019 31-Dec-2020 IN00722144 Project Ready for Bid/FS has Completed (Number, Custom Breakdown) 6/26/2019 Page 3 of 5 The World Bank Implementation Status & Results Report Indonesia's Infrastructure Finance Development (IIFD) - RE (P157490) Baseline Actual (Previous) Actual (Current) End Target Value 2.00 9.00 9.00 3.00 Date 21-Apr-2016 11-Dec-2018 11-Dec-2018 31-Dec-2020 IN00722145 ►Identify and Address Critical Legal and Regulatory Bottlenecks for Infrastructure Finance and Development (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.00 6.00 6.00 1.00 Date 30-Sep-2014 11-Dec-2018 11-Dec-2018 31-Dec-2020 IN00722146 Critical regulatory bottlenecks are amended or changed (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 6.00 1.00 Date 30-Sep-2014 11-Dec-2018 11-Dec-2018 31-Dec-2020 IN00722147 Duration of Project Cycle From Preparation until Bid Award (Years, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 7.00 1.50 1.50 4.00 Overall Comments IR The Project that indirectly supported and reached financial closures are: (1) Manado - Bitung Toll Road USD380,597,015, (2) Balikpapan - Samarinda Toll Road USD738,805,970, (3) Pandaan - Malang Toll Road USD440,298,507, (4) Batang - Semarang Toll Road USD820,895,522, (5) Serpong – Balaraja USD447,761,194, (6) Central Java Power Plant USD2,985,074,627, (7) Palapa Ring West Package USD95,522,388, (8) Umbulan Regional Water Supply USD156,716,418, (9) Palapa Ring East Package USD382,835,821, (10) Palapa Ring Central Package USD102,985,075, (11) Cileunyi - Sumedang - Dawuan Toll Road USD612,686,567, (12) Jakarta Cikampek South Toll Road USD1,029,200,000, (13) Probowangi Toll Road USD1,620,700,000 (14) Bandar Lampung Water Supply USD80,000,000, (15) Nambo Regional Solid Waste USD44,400,000, (16) West Semarang Water Supply USD40,000,000. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P157490 TF-A2268 Effective USD 4.90 4.90 0.00 3.42 1.48 70% 6/26/2019 Page 4 of 5 The World Bank Implementation Status & Results Report Indonesia's Infrastructure Finance Development (IIFD) - RE (P157490) Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P157490 TF-A2268 Effective 22-Apr-2016 25-Apr-2016 25-Apr-2016 31-Dec-2020 31-Dec-2020 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 6/26/2019 Page 5 of 5