PT Sarana Multi Infrastruktur (Persero) - PT SMI is the Special Mission Vehicle (SMV) under the Ministry of Finance of the Republic of Indonesia (MoF) which is engaged in development financing and is a Non-Bank Financial Institution. As a State-Owned Enterprise (BUMN) which share solely owned by the Government of the Republic of Indonesia through the MoF, PT SMI focuses on supporting the acceleration and equitable distribution of sustainable development in Indonesia.

In running its business, PT SMI has 3 (three) business pillars consisting of:

1. Commercial Financing
2. Public Financing
3. Advisory and Project Development

Since its establishment, PT SMI has been focusing on 8 (eight) sectors that can be financed, namely roads & bridges, transportation, oil & gas, telecommunication, waste management, electricity, irrigation, and drinking water supply.

In alignment with PT SMI’s evolution, the Government transferred the assets and functions of the Government Investment Center (PIP) to PT SMI in 2015, with one of its tasks being the management of public sector financing and geothermal projects. Thereafter, PT SMI obtained permits for business sector expansion, which includes social infrastructure (hospitals, markets, terminals, etc.), tourism infrastructure, and rolling stock.

Furthermore, in 2017, PT SMI established a Sharia Business Unit to accommodate sharia financing and investment needs, along with consultation services.

In 2019, PT SMI expanded its business sector which includes water resources & irrigation infrastructure, waste management system infrastructure, informatics infrastructure, renewable energy infrastructure, energy conservation infrastructure, sports and arts facilities & infrastructure, and public housing infrastructure, to support the implementation of the Public Private Partnership (PPP) scheme.

PT SMI was entrusted with a mandate expansion, which enables PT SMI to finance other development projects based on assignment by the Government in addition to being an institution that can only provide infrastructure financing.

In 2021, PT SMI issued global bonds worth USD 300 million (equivalent to IDR 4.28 trillion), listed on the Singapore Stock Exchange. A breakthrough for PT SMI to obtain alternative financing to support its business expansion.

Amidst uncertain conditions in 2022, PT SMI pursued to a significant role in helping the Government accelerate the economic recovery. Thereafter, PT SMI was appointed as the Country Platform Manager of the Energy Transition Mechanism (ETM) in Indonesia.

In 2023, PT SMI continues to actively provide financing to the Municipal Government. Apart from its function as public infrastructure investment, the financing program implementation for the Municipal Government is expected to foster policy reform, institutional, and target achievement of the Municipal Government. PT SMI has collaborated with 92 regions in Indonesia regarding regional infrastructure financing, such as the construction of roads, markets, and hospitals. These strategic initiatives are anticipated to assist and offer solutions to local governments in executing infrastructure development projects that cannot be supported by the banking sector.

As a catalyst for national infrastructure development, PT SMI has optimized its role by establishing the SMI Institute. This establishment is a part of concrete manifestation to optimize PT SMI’s function in providing research-based solutions to regional development that faces budget limitations. It is hoped that the SMI Institute's presence gives solutions for research-based regional development through research & fellowship activities, capacity building & training, policy advice, and knowledge sharing for all municipal government. SMI Institute is expected to bridge the gaps in infrastructure access among regions.