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Jakarta Post

SMI looks to increase financing for local administrations

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Fri, October 18 2019   /  02:18 am

State-owned infrastructure financing company PT Sarana Multi Infrastruktur (SMI) intends to expand its financing for regional administrations to give local governments more funding options to finance their infrastructure projects.SMI president director Edwin Syahruzad said most local administrations still relied on fund transfers from the central government and locally generated funds (PAD) to finance their development projects because of a lack of awareness of other funding options.“Most local administrations in Indonesia still rely heavily on their regional budgets to finance infrastructure projects such as for transportation, drinking water systems and waste management,” he said during a media gathering in Thousand Islands regency, Jakarta, on Oct. 10. As of September this year, he said, SMI’s outstanding loans for regional administrations totaled Rp 2.73 trillion (US$192.99 mil...