On December 30, 2009, the Indonesian Government formed PT Penjaminan Infrastruktur Indonesia (Persero) / PT PII as a State-Owned Enterprise (BUMN) or Special Mission Vehicles under the Ministry of Finance which is tasked with providing guarantees for government infrastructure projects developed under the Government Cooperation scheme Business Entity (PPP).
On 30 December 2009, the Government of Indonesia established PT Penjaminan Infrastruktur Indonesia (Persero), or Indonesia Infrastructure Guarantee Fund (IIGF) as a State-Owned Enterprise (SOE) through a State Capital Injection of Rp 1 trillion as paid-up capital., referring to Government Regulation no 35/2009.
On 11 May 2010, IIGF officially commenced with its operations as mandated, in the provision of guarantee facilities for infrastructure projects under the Public Private Partnership (PPP) scheme as an effort to accelerate infrastructure development in Indonesia.
The issuance of Presidential Regulation No. 78/2010 dated 21 December 2010 on Guarantees for Infrastructure Projects in Partnership of Government and Private Sector Through an Infrastructure Guarantee Business Entity marked the beginning of a new era in the process of infrastructure guarantees in Indonesia.
IIGF also published the Infrastructure Guarantee Provision Guidelines document that illustrates the various steps in the processing of infrastructure guarantee provision by IIGF.
In October 6, 2011, IIGF signed the Guarantee Agreement for the Central Java Coal- Fired Power Plant 2 x 1,000 MW located in Batang, Central Java, which represented the first PPP infrastructure development project successfully implemented by the Government of Indonesia using a joint guarantee facility provided by IIGF and the Ministry of Finance of the Republic of Indonesia.
In 31 December 2011, the Government of Indonesia has increased the fully placed and paid-up capital of IIGF through an additional Rp 1.5 trillion of State Capital Injection, referring to Government Regulation no 55/2011, strengthening the guarantee capacity of IIGF to Rp 3.5 trillion
The Company received additional State Equity Participation (PMN) of Rp 1 trillion on December 17, 2012, strengthening its guarantee capacity to a total of Rp 4.5 trillion.
The Company secured a US$ 25 million loan facility from the World Bank, and a co-guarantee commitment for US$ 50 million from MIGA as part of strengthening guarantee capacity in connection with the underwriting of the Bandar Lampung Clean Water project.
Fitch Ratings, the global credit rating agency, confirmed a rating of BBB- with Stable Outlook for the Company, which is equivalent with Indonesia’s sovereign rating in recognition of the Company’s financial capacity and performance.
IIGF signed Memorandum of Understanding (MoU) with Sriwijaya University in South Sumatera and Hasannudin University in South Sulawesi.
IIGF signed the co-guarantee agreement with Ministry of Finance for PPP project (Minemouth 9 & 10 Power Plant)
IIGF launched PPP Optimism Book in Indonesia that elaborates regarding infrastructure in Indonesia, PPP implementation, and IIGF roles in infrastructure development
President Joko “Jokowi” Widodo attended the ground-breaking ceremony of Batang coal-fired power plant, also known as PLTU Batang in Central Java on August 28, 2015. The project became the first PPP project in electricity sector guaranteed by IIGF.
On September 2015, IIGF has published its In Principal Approval (IPA) to guarantee for Lampung municipal drinking water project developed with Bandar Lampung Municipal Government.
IIGF through the IIGF Institute facilitated the establishment of University Network for Infrastructure Development (UNIID) on December 16, 2015 as a a forum for academia to support the development of infrastructure in Indonesia.
IIGF has published its In Principal Approval (IPA) to guarantee for Palapa Ring broadband telecommunication project on November 20, 2015, developed with Ministry of Communication and Information.
The launching of Masyarakat Infrastruktur Indonesia (MII) which was initiated by IIGF together with the experts in the field of infrastructure, was held in IIGF Seminar event on Thursday, December 17, 2015.
IIGF signed the Guarantee Agreement (GA) with PT Palapa Ring Barat (Moratel–Ketrosden Triamitra consortium) and the Recourse Agreement with the Ministry of Communication and Informatics for Palapa Ring Western Package on February 29, 2016.
IIGF and PT Len Telekomunikasi Indonesia signed the Guarantee Agreement for the Central Package of Palapa Ring Project has been officially signed by IIGF and PT Len Telekomunikasi Indonesia, along with the Recourse Agreement between IIGF and Ministry of Communication and Informatics on 4 March 2016.
IIGF has signed the Guarantee Agreement for Batang-Semarang Toll Road project with PT Jasamarga Semarang Batang, also the Recourse Agreement with Ministry of Public Work and Housing as the Contracting Agency on Wednesday 27 April 2016.
Pada tanggal 6 Juni 2016, telah dicapai tahap Financial Close untuk proyek PLTU Batang Jawa Tengah berkapasitas 2 x 1.000 MW dengan nilai investasi sekitar US$ 4 miliyar (~ Rp 52 Trilliun). Proyek ini telah mendapatkan penjaminan pemerintah melalui Kementerian Keuangan bersama dengan PT PII.
IIGF has signed the Guarantee Agreement with particular Business Entities and Recourse Agreement with Minister of Public Works and Housing as a Contracting Agency for 3 (three) toll roads, namely Manado-Bitung, Balikpapan-Samarinda, and Pandaan-Malang.
Penandatanganan Perjanjian Penjaminan antara PT PII dengan PT Meta Adhya Tirta Umbulan selaku Badan Usaha Pelaksana. Disaat yang bersamaan, dilaksanakan juga penandatanganan Perjanjian Regres antara Gubernur Jawa Timur dengan PT PII.
PT PII menandatangani kesepakatan bersama dengan Jaksa Agung Muda Perdata dan Tata Usaha Negara (Jamdatun) untuk saling bersinergi dalam memberikan pendampingan hukum demi mempercepat pembangunan infrastruktur di Indonesia.
Pada 3 Agustus 2016 telah digelar Simposium I – University Network for Indonesia Infrastructure Development (UNIID) yang dimaksudkan untuk ajang pertemuan antara universitas-universitas terkemuka di Indonesia yang terhimpun dalam UNIID yang pendiriannya dirintis oleh PT PII untuk menjalin kerjasama untuk ikut berkontribusi kepada pengembangan infrastruktur nasional.
Senin, 25 Juli 2016, telah dilaksanakan penandatanganan Financial Close Proyek Palapa Ring Barat. Proyek ini merupakan Proyek KPBU pertama yang menggunakan Skema Pembayaran Availability Payment (AP) dan diberikan penjaminan pemerintah melalui PT PII.
Pada 29 September 2016 bertempat di Istana Negara, disaksikan oleh Presiden RI Bapak Jokowi, telah dilaksanakan penandatanganan Perjanjian Penjaminan antara PT PII dengan PT Palapa Timur Telematika dan Perjanjian Regres antara PT PII dengan Kominfo selaku PJPK.
Pada 29 September 2016 bertempat di Istana Negara, disaksikan oleh Presiden RI Bapak Jokowi, telah dilaksanakan Financial Close Proyek Palapa Ring Paket Tengah. Proyek ini telah mendapatkan penjaminan Pemerintah melalui PT PII.
Penambahan Modal Disetor sebesar 1 triliun
(1). Cileunyi-Sumedang-Dawuan (2). Serang-Panimbang (3). Jakarta-Cikampek II Elevated (4). Krian-Legundi-Bunder-Manyar. Keempatnya ditandatangani pada tanggal 22 Februari 2017, dan 2 Proyek Tol lainnya yang ditandatangani pada bulan Desember 2017 yaitu (5). Probolinggo-Banyuwangi dan (6). Jakarta-Cikampek (Japek) II Selatan.
Winner ASEAN Risk Award – Public Initiative Category
Pelaksanaan Penilaian Tata Kelola Perusahaan yang Baik atas Penerapan Tata Kelola Perusahaan yang Baik tahun 2016 oleh BPKP.
BUMN terbaik di bawah Kementerian Keuangan
Pada 29 Maret 2017 lalu, Bertempat di Gedung Kementerian Komunikasi dan Informatika, telah dilaksanakan penandatanganan pencapaian Financial Close proyek Palapa Ring Paket Timur yang merupakan rangkaian proyek Palapa Ring terakhir. Acara tersebut dihadiri oleh pihak Kementerian Kominfo selaku PJPK, PT Palapa Timur Telematika selaku Badan Usaha Pelaksana yang dibentuk oleh konsorsium Moratelindo, IBS dan Smart Telecom dan PT PII selaku Badan Usaha Penjaminan Infrastruktur (BUPI) dalam memberikan penjaminan pemerintah serta PT Bank Negara Indonesia (Persero) Tbk selaku Underwriter, Mandated Lead Arranger dan Bookrunner, sekaligus sebagai Agen Fasilitas, Agen Jaminan dan Agen Penampungan proyek Palapa Ring Paket Timur.
Menteri Keuangan RI Sri Mulyani resmi menunjuk Armand Hermawan sebagai Direktur Utama PT Penjaminan Infrastruktur Indonesia (Persero). Hal tersebut tercantum pada Keputusan Menteri Keuangan (KMK) Republik Indonesia Nomor 885/KMK.06/2017 tentang Pengalihan Tugas dan Pengangkatan Anggota Direksi Perusahaan Perseroan (Persero) PT Penjaminan Infrastruktur Indonesia yang ditetapkan pada tanggal 27 November 2017.