Bank Jakarta and PT SMI Provide Rp 2.11 Trillion for Jakarta Infrastructure
Reported by Aldi Geri Lumban Tobing | Translated by Nugroho Adibrata
Bank Jakarta and PT SMI have provided Rp 2.11 trillion in syndicated financing for seven priority infrastructure projects in Jakarta.
Vital to accelerate urban development needs
The funds will accelerate transportation, housing, and flood control projects. Bank Jakarta contributes Rp 1 trillion, and PT SMI provides up to Rp 1.11 trillion. This collaboration highlights the synergy between government financial institutions and regional development banks (BPD) to secure alternative development funding.
Jakarta Governor Pramono Anung, PT SMI President Director Reynaldi Hermansja, and Bank Jakarta President Director Agus H Widodo signed the financing agreement at Jakarta City Hall.
Bank Jakarta Channels Rp326 Billion in Market Financing to Support MSMEsThe financing funds seven key projects: the Latumeten Flyover, the Batavia Technical Office Building in Jatibaru, Phase II of Labor-Intensive apartments, Phase I of Rorotan IX apartments, water reservoirs and retention basins, polders, and Phase III of coastal flood defenses.
Bank Jakarta President Director Agus H Widodo said the collaboration with PT SMI supports Jakarta's transformation into a global city.
"Financial sector synergy with the Jakarta government is vital to accelerate urban development needs," he expressed, Monday (9/28).
Agus stressed that Bank Jakarta, as the Jakarta government's regional development bank, is committed to supporting community-focused development programs.
He noted that Bank Jakarta will expand partnerships to offer innovative, prudent, and sustainable financing solutions.
"Targeted financing in priority sectors is vital to building an advanced, inclusive, and globally competitive Jakarta," he expressed.
PT SMI President Director Reynaldi Hermansjah noted that regional infrastructure development relies on innovative, collaborative funding, reinforcing PT SMI's role in offering alternative financing.
"We are ready to partner with local governments to provide tailored financing and foster stakeholder synergy to accelerate infrastructure projects that benefit the public," he stated.
He noted that PT SMI's regional financing commitments reached Rp 37.19 trillion, with Rp 13.67 trillion in outstanding loans as of July 2026.
The partnership with Bank Jakarta aims to serve as a creative financing model for other regions based on their financial capacity and development needs.
He added that the initiative supports the Ministry of Finance's directive to drive creative financing and accelerate regional infrastructure.
"This syndicated financing will improve urban facilities, expand access to decent housing, ease mobility, and strengthen flood defenses in Jakarta," he added.
Notably, the Latumeten Flyover aims to improve connectivity and road safety, while the new apartment projects will increase decent, affordable housing options for residents.
Further, the development of reservoirs, retention basins, polders, retention ponds, and coastal dikes is directed at reinforcing flood mitigation systems and enhancing Jakarta's resilience against disaster risks and climate change impacts.
