INDONESIA - FINANCE - Indonesia Nets ADB Loan for Roads In Kalimantan and Southern Java - IDB co-financier

The Asian Development Bank approved on Friday a 25-year, $180 million loan for Indonesia to help it improve a 470-kilometer-long road in northern Kalimantan and parts of the busy road network in southern Java.

ADB said the Islamic Development Bank would provide the equivalent of $65 million in co-financing for the project, and the Indonesian government would contribute $135.5 million. Work is expected to be completed by February 2016.  (source)

INDONESIA - CAPITAL MARKETS - Indonesia to auction 1st project-based sukuk on Oct 11

(JAKARTA) Indonesia will offer its first project-based sukuk in an auction on Oct 11, a senior Finance Ministry official said yesterday, a move that will increase the supply of syariah instruments in the less-developed local sukuk market.  (source)

CAPITAL MARKETS - Indonesia May Sell First Sukuk Backed by Road, Rail This Month

May 5 (Bloomberg) -- Indonesia may hold its first sale of sukuk backed by road and rail projects on May 31, said Dahlan Siamat, director of Islamic finance at the finance ministry.

The ministry is waiting for parliament to approve 30 trillion rupiah ($3.5 billion) of state-owned land and office buildings to be used to back sukuk offerings, Siamat said in an interview in Jakarta on May 4. Shariah-compliant bonds pay return on assets to comply with Islam’s ban on interest. (full story)