Consideration of accreditation proposals and activities – Addendum IV Accreditation assessment of APL176

The GCF Accreditation Panel recommends the accreditation of PT Indonesia Infrastructure Finance (PT IIF) as a national direct access entity in Indonesia for medium-sized projects (loans and guarantees) and small-sized projects (equity), with a capacity to manage high-risk (Category A/I-1) environmental and social projects. While PT IIF demonstrated strong fiduciary capacities in on-lending and blending, as well as robust environmental and social safeguards, the Panel identified gaps in public procurement disclosure, the operationalization of its grievance redress mechanism on its website, and the lack of a formal monitoring and evaluation policy. Consequently, accreditation is recommended subject to the applicant meeting these specific conditions before submitting its first funding proposal.

• PT Indonesia Infrastructure Finance (PT IIF) is recommended for accreditation as a national direct access entity for the 'medium' size category for loans and guarantees (above USD 50 million up to USD 250 million) and the 'small' size category for equity (above USD 10 million up to USD 50 million).
• The applicant is deemed capable of managing high-risk environmental and social projects, specifically Category A/Intermediation 1 (I-1), which involves activities with potential significant adverse risks that are diverse, irreversible, or unprecedented.
• PT IIF has a proven track record in financing climate-friendly infrastructure, including a USD 50 million guarantee for a 75 megawatt wind farm in South Sulawesi and a USD 46 million investment in a 227 megawatt geothermal power plant in West Java.
• The applicant fully meets the specialized fiduciary standards for on-lending and blending, having managed funds from the World Bank, Asian Development Bank (ADB), and through the issuance of a USD 150 million sustainability bond on the Singapore Stock Exchange in 2021.
• The Accreditation Panel found that PT IIF does not currently meet the specialized fiduciary standard for grant award and/or funding allocation mechanisms, although it is developing a blended finance delivery mechanism with the Millenium Challenge Account Indonesia II.
• PT IIF's Social and Environmental Management System (SEMS) is considered adequate for high-risk projects, aligning with IFC Performance Standards 1–8, ADB Safeguards, and World Bank policies.
• A gap was identified regarding the applicant's grievance redress mechanism (GRM); while a system exists, the website does not specifically indicate how E&S-related grievances can be submitted or the timelines for resolution.
• The applicant lacks a documented standalone project evaluation policy or a dedicated monitoring and evaluation unit, though it performs project supervision through its Investment Directorate.
• The applicant's procurement experience has primarily involved quotations and limited tenders; it must adopt and publish a procurement policy for GCF-funded activities that includes competitive procurement notices and awards.
• PT IIF's gender policy and capacities are found to be consistent with GCF requirements, with 49.32 per cent of its 148 employees being female as of 2025.

APA

Green Climate Fund (2026). Consideration of accreditation proposals and activities – Addendum IV Accreditation assessment of APL176. https://www.greenclimate.fund/sites/default/files/documents/2026-06/12-consideration-accreditation-proposals-and-activities-addendum-iv-pt-iif-gcf-b45-03-add04.pdf

Chicago

Green Climate Fund. Consideration of accreditation proposals and activities – Addendum IV Accreditation assessment of APL176. 2026. https://www.greenclimate.fund/sites/default/files/documents/2026-06/12-consideration-accreditation-proposals-and-activities-addendum-iv-pt-iif-gcf-b45-03-add04.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Consideration of accreditation proposals and activities – Addendum IV Accreditation assessment of APL176 |date=8 June 2026 |url=https://www.greenclimate.fund/sites/default/files/documents/2026-06/12-consideration-accreditation-proposals-and-activities-addendum-iv-pt-iif-gcf-b45-03-add04.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2026consideration, author = {{Green Climate Fund}}, title = {{Consideration of accreditation proposals and activities – Addendum IV Accreditation assessment of APL176}}, institution = {Green Climate Fund}, year = {2026}, month = jun, url = {https://www.greenclimate.fund/sites/default/files/documents/2026-06/12-consideration-accreditation-proposals-and-activities-addendum-iv-pt-iif-gcf-b45-03-add04.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }