Fasilitas Dan Prosedur Pembiayaan IDB
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Transcript of Fasilitas Dan Prosedur Pembiayaan IDB
FASILITAS DAN PROSEDUR PEMBIAYAAN OLEH
ISLAMIC DEVELOPMENT BANK (IDB)
Diskusi internal
Badan Kebijakan Fiskal
Selasa, 1 Juni 2010
Oleh:
Nanang Zainal Arifin
Pusat Kebijakan Kerja Sama Internasional
I. IDB Highlight
Establishment
Membership
Headquarter and Regional Offices
Shareholders
IDB Vision and Mission 1440H (2020)
Structure Organisation
II. Facilities (Products and Services)
Priority sector
IDB Window
Modes of Financing
III. Procedures
IV. IDB’s Operation in Indonesia
IV. Future Action
Ministry of Finance is IDB Governor Office and BKF is the Secretariat of IDB Office.
Government expects IDB to increase financing for private sector.
IDB facilities can be utilized optimally.
Islamic Finance Industry will evolve in the future.
• Establishment
• Purpose
• Membership
• Capital
• Head Office and Regional Offices
• Accounting Unit
• Languange
• Established in 1975 to foster socio-economic development
in member countries and Muslim communities in
compliance with Shari’ah.
• Authorized capital of US$ 45 billion
• Subscribed capital of US$ 22 billion
• Paid-up capital of US$ 5.3 billion
rating by Moody’s Investors Service, Fitch Ratings,
Standard & Poors.
• Zero-Risk Rating by the European Parliament
Islamic Development Bank (IDB)
• 22 countries in 1975 → 56 countries in 2009
• A Unique Model of South-South Cooperation
Africa: 27
Asia: 26
Europe: 2
Latin America: 1
• 56 members spreading over 4 continents
IDB Regional Offices
In addition, there are currently 12 Field
Representatives in some countries
Regional
Offices
Almaty
Kazakhstan
Kuala
Lumpur,
Malaysia
Dakar, Sene
gal
Rabat, Moro
cco
Saudi Arabia, 24.44
Libya, 9.81
Iran, 8.58
Qatar, 8.61Egypt, 8.48
Turkey, 7.73
UAE, 6.94
Kuwait, 6.54
Algeria, 3.05
Pakistan, 3.05
Indonesia, 2.7 Others, 10.07
Net Cum. End 2009 = US$ 63.90 billion
Projects, $ 28.14
bn, (44%)
Technical Assistance, $ 0.29 bn, (1%)
Trade, $ 34.78 bn, (54%)
Special Assistance, $ 0.7 bn, (1%)
“ By the Year 1440H (2020) IDB shall have become a world-class development bank, inspired by Islamic principles, that has helped significantly transform the landscape of comprehensive human development in the Muslim world and helped restore its dignity.”
Source: AHDR
“We are committed to alleviating poverty,
promoting human development, science &
technology, and Islamic banking & finance,
and enhancing cooperation among our
member countries, in collaboration with
development partners”
IDB
President
BOARD OF
GOVERNORS
BOARD OF EXECUTIVE
DIRECTORS
IDB Organizational Structure
VP
(Fin.)Chief
Econ.
VP
(Opr.)
VP
(Corp
Serv.)
Group Internal Audit
Group Strategic Planning
Group Risk Management
World WaqfFoundation
Group Integrity Officer
General Council
Group Ombudsman
Group Operations Evaluation
Group Shari’ah Board
Human Development
Agriculture Development and Food Security
Infrastructure Development
Intra-trade Among Member Countries
Private Sector Development
Research and Development in Islamic Economics, Banking and Finance
IDB: Six Priority Areas
IDB Group
Islamic Development Bank (IDB)
Islamic Research & Training
Institute (IRTI)
International Islamic Trade
Financing Corporation
(ITFC)
Islamic Corporation
for the Development of the Private
Sector (ICD)
Islamic Corporation for
Insurance of Investment & Export Credit
(ICIEC)
• Research Seminars & Conferences
• Training Courses
• Publications
• IDB Prize in Islamic Economics, Banking &
Finance
• IRTI Scholarship for PhD in Islamic Banking
Islamic Research & Training Institute
(IRTI)
• Established in 1994 to provide Shari’ah-compatible
export credit insurance, political risk
insurance, technical assistance.
o Capital Structure (66.7% IDB, 33.3% MCs) : Total
authorized capital US$ 231 million, subscribed
capital US$ 228 million
o Business Insured in 2009 : over US$ 1 billion
o Cumulatively, as of December 2009 :
- Business Insured US$ 6.35 billion
- in more than 37 member countries
• Insurance Financial Strength Rating of Aa3 by
Moody’s Investors Service
Islamic Corporation for Insurance of
Investment & Export Credit (ICIEC)
o Established in 1999 & commenced its operation in July 2000
o Mandated to promote private sector development and to offer
advisory services to the private sector entities in member
countries.
o An authorized capital of US$ 2 billion, paid up capital of US$
470 million.
o 47 Islamic Countries are members of which 21 are in Africa.
o Capital Structure (50% IDB, 30% MCs, 20% Financial
Institutions).
o As of December 2009, cumulative business :
- Approvals : 185 Projects amounting to US$ 1.59 billion
- in more than 32 member countries
Islamic Corporation for the Development
of the Private Sector (ICD)
• Commenced business activities in January 2008.
It promotes and enhances intra-trade and trade
cooperation among 57 member countries of the
Organization of Islamic Conference (OIC) through
trade financing and promotion programs;
• Authorized Capital : US$ 3.0 billion
• Subscribed Capital : US$ 750 million
• Managing Funds for other institutions : US$ 1.0 billion
• Year 2009 Trade Finance Approvals : US$ 2.1 billion
• Cumulatively Trade Financing, end 2009 : US$ 4.6 billion
International Islamic Trade Financing
Corporation (ITFC)
The Islamic Development Bank Group: Current Areas of Intervention
Financing of
Projects (Public
and Private)
Developing the
Islamic Financial
Industry
Trade Financing
and Promotion
of Cooperation
Capacity Building
Agriculture
Infrastructure
Industry
Education
Health
SMEs, micro
financing
Other sectors
Equity
participation in
Islamic financial
institutions
Developing
Regulatory
framework
Research and
training
Financing
imports
Financing
exports
Promoting
trade
cooperation
Disseminating of
skills (exchange of
experts, training, etc.)
Supporting civil
societies through
NGOs
Supporting women-
in-development
initiatives
IDB/ICD IDB/ICD ITFC IDB/IRTI21
The Islamic Development Bank Group:Current Areas of Intervention (Cont’d)
Risk
Insurance
Research and
Training
Asset
Management
Special Assistance
and Scholarships
Country risk
Short- and
medium-term
commercial
risks
Coverage of
banks for Islamic
financing
products
Islamic
banking and
finance
Islamic
economics
Training in
related fields
Awqaf assets
Investment
portfolios
Equity funds
Venture capital
funds
Support to Muslim
minorities in non-MCs
Alleviation of natural
disasters
Scholarships for
Muslim communities
in non-MCs.
Merit Scholarship
Programs
ICIEC IRTI IDB/ICD IDB22
Leasing
Installment Sale
Construction Finance (Istisna’a)
Equity
Line of Financing
Technical Assistance (Loan & Grant)
Murabaha (Trade Financing)
• Medium/long term rental financing arrangements for income
generating projects in industry.
• Capital equipment and other fixed assets: machinery, agro-
industrial, transport, etc.
• Public and private sectors.
• Technically sound and have a life span beyond the lease period.
• Lease period up to 15 years, including gestation period up to 4 years.
• Mark up 6% per annum and rebate 15% per annum.
• Minimum limit is ID 2 million and maximum is 80 per project.
• Transfer of ownership of the equipment after the end of the lease
period.
•
Medium-term mode of financing.
IDB buys tangible assets on behalf of the beneficiary and sells it at a mark up allowing the beneficiary to make the payment.
Transfers the ownership upon delivery to the beneficiary.
Private sector must contribute 20-30% of the total project cost.
Minimum limit of financing is ID 2.0 million and the upper limit is about ID 80 million per project.
Eligible goods is equipment needed for development in various economic sectors: infrastructure, industry, agriculture, education, etc.
Maximum period is 15 years including the gestation period.
Mark-up is fixed at 6% per annum and a 15% rebate on the mark-up.
Provide bank guarantee acceptable to IDB.
Istisna’a is a contract whereby a party undertakes to produce a specific thing according to certain agreed-upon specifications at a determined price and a specified date of delivery.
The work can be done by others (not undertaking party) under his control and responsibility.
The objective is to promote manufacturing and construction capabilities in the IDB member countries.
It provides medium/long-term financing to meet financing requirement for manufacturing/supplying of assets such as machinery, cargo vessel, oil tankers, etc.
The financing of capital goods shall not exceed 15 years including a gestation perios.
The mark-up shall be fix 6% per annum on the Islamic Dinar. The mark-up is subject to change by the Bank from time to time.
The beneficiary (buyer) shall provide a guarantee to IDB from the Government or a first class bank.
Long-term financing for development projects.
Priority sector is agriculture and infrastructure.
Maximum loan is ID 15 million per project.
Repayment period 15 to 25 years, with a grace period of 3 to 7 years.
The beneficiary is to contribute in the project financing (co-financing).
Usually for government or public institutions and having government guarantees. Private sector may also benefit from loans in special case.
Disbursements are based upon actual project execution.
TA is the provision of technical expertise to assist in the preparation or implementation of a project or a policy. It can also help in the development of institutions or human resources.
2 types of TA: directly related to a project (feasibility study, detailed design, etc), and an advisory nature (definition of policies, preparation of sectoral plans, institution-building, research, etc).
TA as part of a project is financed through the project itself, while independent TA is financed by a grant or interest-free loan.
For public sector is limited to maximum of ID 300,000, and for private sector is ID 100,000.
IDB participates in the equity capital of companies/enterprises that are potentially profitable, Shariah compatible, and are projected to have a developmental impact on the economies of member countries.
Goal is to strengthen the capital base and to augment investors’ confidence in the company.
It can be used to finance all types of campanies both in public and private sectors.
Maximum participation is one-third of the equity capital.
IDB will nominate one or more directors to the governing body of a company.
I. Public projects
II. Private projects
Technical departments submit a project financing proposal to Bappenas.
Bappenas will list the proposed project to the Blue Book.
Bappenas will facilitate to find donors/lenders for the project.
IDB will send an appraisal team to study the proposed project.
IDB and the technical departments will sign the loan agreement.
Any request for financing should be channeled through the Governor of the concerned member country to IDB.
The official request must be accompanied by a feasibility study of the project (proposal).
The Private sector must contribute 20-30% of the total project cost.
The private sector must provide a guarantee from a first class commercial bank acceptable to IDB.
The IDB Governor will issue no objection letter (NOL) on the proposed project.
An request letter from project owner.
A letter of support from expert commision.
Bank guarantee
The completeness of documents:
Work plan
Funding requirement
Cash flow plan
The financial statements of the last three years, etc.
• Indonesia is Founding Member of IDB (1974)
• Member of ICIEC (1993)
• Member of ICD (2003)
• Member of ITFC (2007)
Brief History
Entity Membership Subscription %
IDB 1974 ID 406.48 2.54%
ICIEC 1993 ID 0.25 0.17%
ICD 2003 US$ 4.75 1.11%
ITFC 2007 US$ 2.06 0.31%
Pledge Contribution
ISFD US$ 0.00 US$ 0.00
Portfolio Summary
IDB: 86 Ops for ID 753.5 mn (US$1.1 bn)
Completed57 Ops = ID381.4 mn (45%)
Active 27 Ops = ID345.4 mn (40%) of which17 Ops = ID226.7 mn disbursing (66%)
10 Ops = ID 188.8 mn non-disbursing (34%)
SAO: 2 Ops ID 2.1mn = (US$2.1 mn)
ICD : US$ 23.8 mn
ITFC : US$ 785.2 mn
ICIEC : US$ 68.7 mn (Business Insured)
STRATEGY ALIGNMENT
Country Development Strategy (RPJMN 2010-14)
IDB Proposed Strategy
Increase Per capita Income
Reduce Poverty & Population Growth
Increase Health & Nutrition
Improve Human Capital and
competitiveness
Balanced Growth:Accelerate growth
outside Java (Regional Balance) AgricultureIrrigation
Rural Development
Education
Health
Urban Development
INFRASTRUCTURE
Transport
Energy
Cross-cuttingThemes:
(1) Poverty Reduction (2) Islamic Finance (3) Capacity Building
Operations approved during 1430
1430H Work Program
Operations Mode US$ million
1. Belawan Commercial Port Istisnaa 87.000
2. PNPM-Integrated Community Driven Development
Istisnaa 68.000
3. PNPM-Integrated Community Driven Development
Loan 15.000
4. Medical Research Centers and Two University Hospitals
IS/Lsg 70.000
5. Enhancement Carbon Sequestration From Indonesian Rain Forest
TA Gr 0.200
6. West Sumatra Emergency Relief Grant 1.000
7. West Sumatra Relief & Rehabilitation Loan/Istisnaa 29.500
Grand Total 280.200
Work Program-1431H
Project Type Sector Amount (US$)
Quality Improvement of Padjadjran University (UNPAD), Bandung
HDE -Education
35.00
Semulue Physical Infrastructure (TP-Phase II)
Agriculture & Rural Development
20.0
Sub-Total 55.00
Category A: Ready projects
Work Program-1431H
Category B: Standby projects
Development & upgrading of State University (UNESS), Semarang
HD -Education 35.00
Procurement of Rail Track, Java INF - Transport 70.00
Regional Roads Development (co financing with ADB)
INF-Transport 120.00
RR of Vocational Training Centers (BPLK)
HD - Vocational Education
36.00
Integrated Community Driven Development (ICDD)
Rural Development
77.60
Sub-Total 338.60
Total (A+B) 393.6
41
NO IDB PORTFOLIO IN INDONESIA (per December 31, 2009)
Description AMOUNT
1 IDB Total Projects 79 Loans
2 Total Amount USD 1.767,3 Million
3 Cancellation 10 loans
4 Total Amount of Cancellation USD 312,6 Million
5 Net Commitment 69 loans
6 Total Net Commitment USD 1.454,8 Million
7 Total Disbursed USD 1.119,9 Million
8 Undisbursed USD 364,6 Million
9 Principal Paid USD 805 Million
10 Outstanding USD 314,9 Million
*) Based on 4th Quarterly Report Year 2009, Directorate of Evaluation, Accounting and Settlement
IDB FINANCING
Total Operations Plan in 2010: US$ 3.72
billion
- US$ 39 million Grants Financing
- US$ 381 million Concessional Loans
- US$ 3.30 billion Ordinary Financing
Investments in Islamic Banks & Financial Institutions
Capacity Building for Islamic Banks
Introduction and Dissemination of Islamic Modes of
Financing, and Developing Knowledge
Developing the architectural foundation of the Islamic
financial Industry, by establishing and supporting crucial
institutions *
44
List of cost of Borrowing
Descriptions
Multilateral Bilateral
IBRD IFAD IDB ADB -ADF ADB - OCR JICA (ODA)
1/7/09
Maturity 15-24,5
years
40 years 15-20 years 32 years 15-25 years 30-40 years
Grace Period 3-9 years 10 years 3-5 years 8 years 3-5 years 10 years
Repayment Period 15 years 30 years 12-15 years 24 years 12-20 years 20-40 years
Commitment Charges - - - - 0,15% -
Front-end-fee 0,25% - - - - -
Service Charges - 2,5 - 5,1% - - -
Interest Rates LIBOR +
1.20%(FSL)
LIBOR -
0.05% (VSL)
0,75-3% - 1% during
Grace Period,
1,5% after
words
LIBOR+0,60%
Waiver 0,40%
-
TERMS AND CONDITIONS
Thank you