On October 5, 2018, the Ministry of Finance of Indonesia and PT. Sarana Multi Infrastruktur (PT SMI) launched SDG Indonesia One (SIO), an integrated platform to fund projects associated with the achievement of sustainable development goals (SDGs) in Indonesia. Climate Policy Initiative is one of 22 partner organizations to sign the Letter of Intent with PT SMI to support the implementation of SIO, which has already raised USD 2.3 billion (or equivalent to IDR 34 trillion).
SIO is a blended finance instrument designed to combine and channel public and private finance to the various stages of the project development life cycle. The platform also provides access to investors to participate which corresponds to their investment objectives and risk appetite. Public funds raised through this platform are expected to overcome the key financing barriers to SDG-related projects, and to crowd-in large amounts of private sector investment.
Drawing from our work supporting various innovative financing schemes through the Lab, CPI supported PT SMI in designing the SIO platform.