BLENDED FINANCE SUKUK NEGARA DAN KPBU UNTUK OPTIMALISASI PEMBANGUNAN INFRASTRUKTUR

Abstract

As is known, the APBN as one of the sources of infrastructure funding has various limitations. Therefore, the Government continues to strive to innovate sources of infrastructure funding. Currently, infrastructure development with the KPBU scheme has been running well. However, to catch up on the infrastructure lag in Indonesia, extra efforts are needed, especially in meeting financing needs. On the other hand, the Government has also developed infrastructure financing sourced from Sukuk Negara (State Sharia Securities/SBSN) financing. In this study, the author tries to create an idea about efforts to optimize infrastructure development with the KPBU scheme and synergize SBSN as one source of KPBU financing, especially for ESG-based infrastructure. This study uses qualitative analysis with the Strength, Weakness, Opportunity, and Threat (SWOT) analysis tool. This study uses primary and secondary data which are then processed simultaneously. The results of the study concluded that the KPBU financing model with the issuance of SBSN to finance part of the KPBU project is very possible to be implemented. In order for this mechanism to be implemented properly, the coordination of KPBU financing with the issuance of SBSN needs to involve the SBSN management unit at the Ministry of Finance since the project planning. The Ministry/Institution as the PJPK can submit financing for the KPBU project through the issuance of SBSN in accordance with the APBN mechanism. During the construction period, financing with the issuance of SBSN is carried out in accordance with the portion that has been determined in the APBN for the relevant year. When the project has completed the construction period and is ready to operate, the PJPK can hand over the project to the BUP to carry out business operations in accordance with the KPBU agreement.