Indonesia - Indonesia Infrastructure Finance Facility : P092218 - Implementation Status Results Report : Sequence 03

 The World Bank Report No: ISR4810 Implementation Status & Results Indonesia Indonesia Infrastructure Finance Facility (P092218) Public Disclosure Copy Operation Name: Indonesia Infrastructure Finance Facility (P092218) Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: Country: Indonesia Approval FY: 2009 Product Line: IBRD/IDA Region: EAST ASIA AND PACIFIC Lending Instrument: Financial Intermediary Loan Implementing Agency(ies): Ministry of Finance Key Dates Board Approval Date 24-Jun-2009 Original Closing Date 31-Dec-2013 Planned Mid Term Review Date Last Archived ISR Date 30-Jun-2011 Effectiveness Date 25-Apr-2011 Revised Closing Date 31-Dec-2013 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to strengthen and further develop the institutional framework of the financial sector to facilitate financing of commercially viable infrastructure projects and thereby increase provision of private infrastructure in Indonesia. Key performance indicators to judge PT. IIF's success include the following outcomes: (i) increase in the number of commercially viable infrastructure projects achieving financial closure through long-term debt financing, other financial products, and advisory services from the IIFF over the life of the project; (ii) Increase in the amount of private capital (including long-term debt and equity) available for infrastructure projects over the life of the project; (iii) Increased support to government#s policy making in private provision of infrastructure through advisory services from IIFF; and (iv) Increase in privately financed infrastructure in Indonesia. Quantitative targets for these indicators have been incorporated in the results matrix attached to the PAD. As PT. IIF has just begun operations in last two months and the Bank's loan is not yet effective and has yet to finance any infrastructure projects, it is still premature to provide interim measures of progress towards the PDO. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Public Disclosure Copy On-lending of Bank loan to eligible infrastructure projects 100.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Moderately Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Moderately Unsatisfactory Overall Risk Rating Substantial Substantial Implementation Status Overview Page 1 of 4  The World Bank Report No: ISR4810 The Project became effective on April 25th, 2011. Implementation is at too early a stage to report meaningful progress towards the project's development objectives. The Bank team continues to work closely with PT. IIF, the Government, and other stakeholders as the project moves into implementation. The recent progress updates received from PT IIF (SEPT11) are : 1) The Company and Shareholders has already recruited the new CEO and are in the process to recruit vacant positions, i.e. Chairman / Independent Commissioner, and BoD (Director of Investment, Director of Advisory and Director of Risk). 2) PT IIF is currently proposing the revised Business Plan (2011-2015) to Shareholders that includes Public Disclosure Copy planning for both capital injection (capital call) from the equity shareholders and loan draw-down from ADB and The World Bank. 3) Shareholders is currently in the middle discussion with potential Private Sector Investors to invest in PT IIF. This potential investor is expected not only to bring financial resources but also to support Technical Assistance and Capacity Building in PT IIF so that the company could adopt best practice in the Infrastructure Finance and Project Finance areas. 4) PT IIF, together with IFC and ADB, is currently active to seek co-investment and/or co-financing opportunities in some infrastructure related deals. Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Increase in the amount of private capital Amount(USD) Value 0.00 0.00 (including long-term debt and equity) leveraged by the IIFF over the life of the project. Date 13-May-2011 26-May-2011 31-Dec-2013 Comments It is premature to assess the The IIFF will have leveraged progress towards the PDO. an increase in private capital for infrastructure projects over the life of the project. Total loans provided by the IIFF to be in line with projections in PAD Increase in number of privately financed Amount(USD) Value 0.00 infrastructure projects made bankable through the IIFF#s advisory services. Date 25-Jun-2010 31-Dec-2013 Comments It is premature to assess the The IIFF is expected to be progress towards the PDO obtaining revenue from advisory services in line with Public Disclosure Copy projections in the PAD Intermediate Results Indicators Page 2 of 4  The World Bank Report No: ISR4810 Indicator Name Core Unit of Measure Baseline Current End Target Increase in the amount of financing from Bank Amount(USD) Value 0.00 funds provided by the IIFF to commercially Date 25-Jun-2010 31-Dec-2013 Public Disclosure Copy viable infrastructure projects through long-term debt financing and other financial products over Comments IIFF to have committed the the life of t entire Bank loan of US$100 million to commercially viable infrastructure projects based on financial projections Data on Financial Performance (as of 08-Jul-2011) Financial Agreement(s) Key Dates Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date P092218 IBRD-77310 Effective 24-Jun-2009 15-Jan-2010 25-Apr-2011 31-Dec-2013 Disbursements (in Millions) Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P092218 IBRD-77310 Effective USD 100.00 100.00 0.00 0.00 100.00 0.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation Page 3 of 4  The World Bank Report No: ISR4810 Implementation of the project is ongoing. However, it is at too early a stage to report meaningful progress towards the project's development objectives. Restructuring History Public Disclosure Copy There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4