16 Years of PT SMI, Driving Growth Through Impactful Development - Thailand PR News - [Banking](https://thailandbusinessnews.net/category/banking/) - [Companies](https://thailandbusinessnews.net/category/companies/) - [Economy](https://thailandbusinessnews.net/category/economy/) - [Press Releases](https://thailandbusinessnews.net/category/press-release/) - [PR Newswire](https://thailandbusinessnews.net/pr-newswire-updates/) - [Tech](https://thailandbusinessnews.net/category/tech/) - [Tourism](https://thailandbusinessnews.net/category/tourism/) - [Press Release](https://thailandbusinessnews.net/category/press-release/) # 16 Years of PT SMI, Driving Growth Through Impactful Development ##### Up next ![The Journey of Blessing: A Grand Ramadan Celebration at The Westin Surabaya and Four Points by Sheraton Surabaya, Pakuwon Indah](https://i0.wp.com/r2.thailandbusinessnews.net/2025/02/Ramadan_Journey_Double_Decker.jpg?resize=200%2C110&ssl=1 "The Journey of Blessing: A Grand Ramadan Celebration at The Westin Surabaya and Four Points by Sheraton Surabaya, Pakuwon Indah") [](https://thailandbusinessnews.net/press-release/the-journey-of-blessing-a-grand-ramadan-celebration-at-the-westin-surabaya-and-four-points-by-sheraton-surabaya-pakuwon-indah/) ###### [The Journey of Blessing: A Grand Ramadan Celebration at The Westin Surabaya and Four Points by Sheraton Surabaya, Pakuwon Indah](https://thailandbusinessnews.net/press-release/the-journey-of-blessing-a-grand-ramadan-celebration-at-the-westin-surabaya-and-four-points-by-sheraton-surabaya-pakuwon-indah/) Published on 26 February 2025 ##### Author ##### [ CISION PRNewswire ](https://thailandbusinessnews.net/author/cision/) ##### Tags - [PRNewswire](https://thailandbusinessnews.net/tag/prnewswire/) JAKARTA, Indonesia, Feb. 26, 2025 /PRNewswire/ — PT Sarana Multi Infrastruktur ("Persero") ("PT SMI") continues to maintain its existence to provide impacts through support for equitable development throughout Indonesia. PT SMI was born out of the urgency to accelerate infrastructure development, which is sometimes hindered by financing issues. Now, at its 16th anniversary, PT SMI is ready to take on a bigger role to provide a more optimal impact in accelerating development. [ ![Management and employees of PT SMI celebrated the company's 16th anniversary with the theme "Delivering Development through Resilience".](https://mma.prnasia.com/media2/2628296/Foto_1.jpg?p=medium600 "Management and employees of PT SMI celebrated the company's 16th anniversary with the theme "Delivering Development through Resilience".") ](https://mma.prnasia.com/media2/2628296/Foto_1.html) Management and employees of PT SMI celebrated the company’s 16th anniversary with the theme "Delivering Development through Resilience". In his speech at the 16th anniversary celebration of PT SMI with employees, the President Director of PT SMI, Reynaldi Hermansjah, mentioned that there is a spirit of perseverance that the Company is promoting this year. "On our 16th anniversary on February 26, 2025, PT SMI carries the theme ‘Delivering Development through Resilience’. These words are not just a slogan, but a philosophy that will accompany the Company’s business and operational activities. This philosophy focuses on how PT SMI will deploy all its capabilities, continuously innovate to deliver equitable development. However, in this context, "resilience" encompasses the ability to face and rise from difficulties, failures, pressures, and the ability to adapt to existing challenges," said Reynaldi. "Resilience" itself is one of the 6 corporate values of PT SMI, which has indeed been integrated into the very essence of all PT SMI employees, commonly known as SMIers. Other corporate values of the company include "Integrity", "Service Excellence", "Partnership", "Trust" and also "Innovation". SMIers are expected to embody the spirit of resilience to contribute to long-term national development in order to build a solid foundation for inclusive and sustainable growth. Since its establishment on February 26, 2009, PT SMI has played a central role as a Special Mission Vehicle (SMV) under the Ministry of Finance. PT SMI is able to provide alternative solutions for infrastructure development financing through innovative loan products. PT SMI has become a catalyst for infrastructure development in Indonesia while also addressing the Market Mismatch in Financing and Project Readiness in the infrastructure sector. PT SMI has grown very rapidly since its first financing in the irrigation sector amounting to IDR 248 billion. The Company has recorded active financing commitments until December 2024 amounting to Rp 148.9 trillion and an outstanding amount of Rp 96.3 trillion. The total project value from PT SMI’s financing reached Rp 1,153 trillion. From the total project financing, PT SMI has generated a multiplier effect of 7.75 times against the total commitment, and 37.79 times against the paid-up capital. The three largest sectors financed by PT SMI are the road and toll road sector, the electricity sector, and the transportation sector. PT SMI’s financing in the road sector has resulted in 4,511 kilometers of toll roads. Meanwhile, in the electricity sector, PT SMI helped increase electricity production by 7.7 Gigawatts, lighting up 5.9 million households. In the transportation sector, the output and outcome of PT SMI’s financing are more diverse depending on the mode being financed. For example, PT SMI helped finance the construction of 646 train carriages and 242.1 kilometers of railway. This increased the number of passengers by 109.6 million people per year. "In its support for domestic projects, PT SMI has recorded several achievements in financing various sectors, including the connectivity sector and the renewable energy sector. The top 3 sectors financed by PT SMI, have generated impact on economic output amounting to Rp 1,696.5 trillion," explained Reynaldi. Since 2016, PT SMI has also become a strategic partner of the Regional Government through regional loan facilities. As of December 2024, PT SMI has disbursed regional loans amounting to IDR 36.66 trillion in the form of commitments, and IDR 21.19 trillion outstanding. Some examples of projects that received regional loan support from PT SMI include road construction in Tabalong Regency, the Konaweha Bridge in Kolaka Regency, the Bersehati Market in Manado City, the Regional Public Hospital (RSUD) in Solok Regency, the NTB Provincial RSUD, the Teratai Tower in Banyumas Regency, and the RSUD in Bangli Regency. During the COVID-19 pandemic in 2020 and 2021, PT SMI also assisted the Government in performing a countercyclical role by distributing National Economic Recovery (PEN) loans to Regional Governments and State-Owned Enterprises (BUMN). The PEN loans disbursed provided a positive contribution by mitigating economic contraction, encouraging national economic growth, increasing household income, and creating jobs. To further accelerate public financing, PT SMI is now in the early stages of transforming into Development Finance Institution (DFI). "We recognize the importance of regional loans to drive development, as well as the increasing need for public services. As a DFI, PT SMI will not only focus on financing large-scale infrastructure projects but also strengthen support for local governments to align economic growth and inclusive development. PT SMI will function like a "Mini World Bank" that more actively provides access to financing, but not at the national level, rather to local governments, with the aim of generating a greater impact on the economy and society in the regions," said Reynaldi. One of the pillars in realizing transformation process as a DFI is by establishing SMI Institute (SMII) in 2023. The presence of SMII is utilized to conduct studies in the regions related to the sectors needed, regional clustering studies based on socio-economic conditions and the fiscal capacity of the regions, as well as the socio-economic impact of the programs that will be funded by PT SMI. In the end, PT SMI’s public financing programs will become more targeted and focused on the sectors that were indeed needed by the local governments in Indonesia. PT SMI also plays a strategic role in supporting the achievement of Sustainable Development Goals (SDGs) and achieving net zero carbon. By focusing on research-based soft loans and aligning activities with the principles of People, Planet, Profit, and Prosperity, PT SMI aims to maximize its impact on sustainable development. The momentum of Indonesia’s G20 Presidency in 2022 also serves as an opportunity for PT SMI to demonstrate its capability in supporting the government to address global challenges, particularly the impact of climate change. The Indonesian government, through the Ministry of Finance, has appointed PT SMI as the Country Platform Manager to oversee the transition from fossil energy to environmentally friendly energy. The Indonesia ETM Country Platform will mobilize funding support from international partners, including multilateral, bilateral, philanthropic, and private sector entities, to facilitate the government in preparing energy transition investment plans and climate investment funding to accelerate the operational period of fossil fuel energy sources, specifically coal-fired power plants (PLTU). Until now, PT SMI has received support from 18 partners, which consist of grant partners, financing partners, knowledge & technical partners, and investment partners. Since 2018, PT SMI has stopped financing fossil fuel power plant projects and shifted its focus to renewable energy power plants such as hydro, mini-hydro, solar, geothermal, biomass, and wind power plants. As of December 2024, PT SMI has financed 94 climate-related projects with a cumulative commitment of IDR 33.45 trillion and project value of IDR 174.8 trillion. 49 projects have been calculated and resulted in a potential avoided Greenhouse Gas of 6.8 million tons of CO2e and a potential Carbon Credit Equivalent of 25 million USD. PT SMI also manages the SDG Indonesia One (SIO) platform, which is a platform that supports the achievement of the Sustainable Development Goals (SDGs). This platform combines public and private funds through blended finance to be allocated for infrastructure projects related to the SDGs. This blended finance scheme has successfully supported several strategic projects, including the Jawa-1 Gas-Fired Power Plant (PLTGU) project and support for the Tembesi Solar Power Plant (PLTS), which is the second-largest floating solar power plant in Indonesia with a capacity of 46 MWp. Happy 16th Anniversary PT SMI. May we continue to ignite the spirit of building the nation. About PT Sarana Multi Infrastruktur (Persero) ("PT SMI") PT Sarana Multi Infrastruktur ("Persero") ("PT SMI"), established on February 26, 2009, is a State-Owned Enterprise under the coordination of the Ministry of Finance of the Republic of Indonesia, in the form of a Non-Bank Financial Institution (LKBB). PT SMI plays a role and has a mandate as an agent of sustainable development. PT SMI has 3 business pillars, namely Commercial Financing, Public Financing, and Project Development and Advisory Services.PT SMI has various functions and unique products / features to support the acceleration of infrastructure development, which not only serves as infrastructure financing but also as an enabler through the implementation of the Government and Business Entity Cooperation (KPBU) scheme, involving various financial institutions both private and multilateral. PT SMI actively supports the implementation of Public Private Partnership (PPP) and encourages the acceleration of infrastructure development in the regions through regional loan products. [Source link ](https://www.prnasia.com/story/archive/4627891_AE27891_0?rand=89749) ``` This content was prepared by our news partner, Cision PR Newswire. 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