SMI provides financing for Singkawang roads, bridges

By Romel S. Gurky

State infrastructure financing PT Sarana Multi Infrastruktur (Persero) (SMI) has extended financing of Rp70 billion (about $4.05 million) to the Singkawang city government to support road and bridge development, the company said.

The agreement, signed on April 27 in Jakarta, will fund the improvement and reconstruction of 33 road segments as well as the construction of four bridges in the West Kalimantan city.

SMI said the financing aims to improve connectivity in Singkawang, which serves as a regional hub for trade, services and tourism, while addressing infrastructure constraints caused by limited local budgets.

Read also: SMI, Surabaya sign Rp885.85 billion financing deal for road projects

To support the financing, SMI is also working with Bank Kalbar under a Collection Account Management Agreement (CAMA) framework, aimed at strengthening governance and mitigating financial risks.

The company, which operates under Indonesia’s Ministry of Finance, provides funding support for infrastructure projects across the country, particularly at the regional level, as part of efforts to boost economic growth and development.

Editing by Alexander Ginting