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View all search resultsFinance Ministry’s SMI secures $9.3m grants to expand green finance
PT SMI operates as a development finance institution providing corporate and public financing alongside project advisory and preparation services.
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Representatives of PT Sarana Multi Infrastruktur (PT SMI) sign grant agreements and memorandums of understanding with international development partners on Feb. 4 during a donor coordination meeting in Jakarta. (SMI/- )
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tate-owned infrastructure financier PT Sarana Multi Infrastruktur (PT SMI) on Tuesday signed two grant agreements and two memorandums of understanding (MoUs) with international development partners, to secure new funding to deepen Indonesia’s sustainable finance market and accelerate the country’s energy transition.
The agreements were signed during the Donor Coordination Meeting in Jakarta on Feb. 4, bringing together multilateral lenders and bilateral development agencies to support blended finance schemes under PT SMI’s SDG Indonesia One (SIO) platform and the Energy Transition Mechanism (ETM).
One of the commitments came from Germany’s KfW Development Bank, which agreed to provide grant funding of up to €7.82 million (US$9.3 million) to establish a Green Bond Development Facility aimed at accelerating the issuance of green and sustainability bonds in Indonesia.
The facility is expected to strengthen environmental, social and governance (ESG) standards among bond issuers while mobilizing greater private capital into climate-aligned investments.
PT SMI also signed an extension of a grant agreement with France’s Agence Française de Développement (AFD) to optimize the use of remaining grant funds for project preparation, particularly in green and inclusive infrastructure development.
Read also: Why a just land transition needs real funding
At the same event, the state-owned firm entered into MoUs with the Global Green Growth Institute (GGGI) and the Japan International Cooperation Agency (JICA) to expand cooperation on energy transition financing, project development, waste management and sustainable infrastructure.
