Promoting renewable energy and climate investments through a green credit line to PT SMI, a key public financial institution of Indonesia

ongoing

To support the increase of credit dedicated to climate-related investments, AFD provides long-term financial resources and technical assistance to PT SMI. AFD granted to PT SMI a first US$ 100M credit line, dedicated to the financing of infrastructure projects with climate benefits (mitigation or adaptation) and a US$ 5M grant dedicated to the financing of renewable energies and allowing PT SMI to partially cover the risks taken in this sector. Finally, a €400K technical assistance program has been granted to strengthen PT SMI’s procedures and support project appraisal. The grant and the technical assistance program were financed by funds delegated by the British Cooperation (DFID).In July 2019, a second support has been approved by AFD Board in the form of a US$150M credit line, a EUR 600K grant for technical assistance, and a EUR 5M delegated fund from the European Union for technical assistance and investment grant.