Indonesia state-owned infra firm SMI raises $105m in green bonds

President Director of PT Sarana Multi Infrastruktur Emma Sri Martini

Indonesia’s Sarana Multi Infrastruktur (SMI), a state-owned infrastructure financing firm, said on Tuesday it had issued a combined 1.5 trillion rupiah ($104.6 million) via green bonds and sukuk, tapping into environmentally-minded investors.

SMI, which is supervised by the Ministry of Finance, raised 500 billion rupiah in green bonds and 1 trillion rupiah in sukuk, with each programme allowing issuance of up to a maximum 3 trillion rupiah.

The deal follows efforts by Indonesia to develop so-called green finance and boost use of clean energy sources in one of the world’s largest emitters ofgreenhouse gases.

The company said it had been accredited by the multilateral Green Climate Fund, which requires clear management and reporting on all climate-related financing.

“The proceeds from the bonds will be used to fund projects focused on sustainability, including in renewable energies, environmentally friendly public transports and clean water management,” SMI head Emma Sri Martini said in a statement.

SMI‘s green bond and sukuk framework was assessed by the Centre for International Climate and Environmental Research (CICERO), a non-profit which specialises in green finance.

SMI has identified seven existing projects eligible for refinancing under its green issuance programme, which include low emissions light rail transportation, mini hydro power plants and water treatment and irrigation systems.

In February, Indonesia became the first Asian country to sell “green bonds internationally in a $1.25 billion deal.

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Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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