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All Journal CSID Journal of Infrastructure Development (CSID-JID) Makara Journal of Technology CSID Journal of Infrastructure Development
Suyono Dikun
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Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Electrical & Electronics Engineering Engineering Materials Science & Nanotechnology Mechanical Engineering Social Sciences

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Journal : CSID Journal of Infrastructure Development

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Sharia – Compliant Instruments as Innovative Financing for Transportation Infrastructure Development in Indonesia Dikun, Suyono; Lamari, Fiona; Rarasati, Ayomi Dita; Rahman, Herawati Zetha; Anggraeni, Devy
CSID Journal of Infrastructure Development Vol. 1, No. 1
Publisher : UI Scholars Hub

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Abstract

Indonesia’s transportation development in the next 5 years is projected to be accelerated to cope with the deficit and gap that had been built up over the last two decades. A study conducted by Bappenas and JICA for the National Mid-Term Development Plan (RPJMN) 2015-2019 projected the magnitude of investment needed for the transport sector in sums up to IDR 2,500 trillion or around IDR 500 trillion per year. The state budget (APBN) had been and will always be insufficient to finance the total needs for transport investment. The innovative financing in transport development becomes very urgent given the tight fiscal allocation of Indonesia’s state budget, which is not adequate in financing infrastructure development. Indonesia needs to be innovative to find other sources of funds to finance transportation development. There are two streams: (1) to create a financing scheme based on the state budget, such as a Performance-Based Annuity Scheme (PBAS), infrastructure bonds, and shariah-based bonds (Sukuk) and (2) to create a non-state budget financing scheme to utiize domestic funds that are available domestically. The aim of this paper is to explore the possibility of Shariah-Compliant financing as a financing option for Indonesia’s infrastructure development. The methodology consists of estimating the infrastructure funding requirement in Indonesia, an understanding of Shariah-Compliant instruments in the global context, and lessons learned from other countries who who have applied Shariah-Compliant instruments for their infrastructure projects.
Evaluating Insurance Funds as A Financing Source for Infrastructure Development: A Case Study of Indonesia Berawi, Mohammed Ali; Dikun, Suyono; Bintoro, Ristu; Sari, Mustika; Susilowati, Suci Indah
CSID Journal of Infrastructure Development Vol. 6, No. 1
Publisher : UI Scholars Hub

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Abstract

There is a funding deficit that cannot be covered by relying solely on government money to build Indonesia’s Infrastructure; consequently, additional sources of financing are engaging the private sector to fill the gap. Insurance funds are an alternative funding source in many countries, although their application is still at an early stage. By assessing the risks faced by insurance companies involved in infrastructure investment, this paper attempts to evaluate the use of insurance money as an alternative funding source for infrastructure investment in Indonesia. The analytical hierarchical process (AHP) technique was used in the quantitative methodology of this study to evaluate the risks faced by insurance companies when investing in infrastructure and to identify strengths and limitations. The results show that insurance funds are a possible alternative funding source for infrastructure projects in Indonesia; as a result, the government provides the necessary instruments, such as important policies and attractive partnership structures and models.
Co-Authors Abdur Rohim Boy Berawi Abdur Rohim Boy Berawi Albert Eddy Husin Anak Agung Istri Sri Wiadnyani Anggraeni, Devy Ayomi D. Rarasati, Ayomi D. Bambang Susantono Bintoro, Ristu Herawati Zetha Rahman Jade Sjafrecia Petroceany Lamari, Fiona Mohammed Ali Berawi Mustika Sari, Mustika Perdana Miraj Rahman, Herawati Z. Rarasati, Ayomi Dita Susilowati, Suci Indah Teuku Yuri M. Zagloel Tommy Ilyas