Procurement Summary
Country: Indonesia
Summary: Selection of a Consulting Firm for Capital Markets Assessment in Indonesia
Deadline: 12 Nov 2025
Posting Date: 29 Oct 2025
Other Information
Notice Type: Tender
TOT Ref.No.: 129061883
Document Ref. No.: 0002019159
Competition: ICB
Financier: World Bank (WB)
Purchaser Ownership: Public
Tender Value: Refer Document
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1.BackgroundTheseTerms of Reference (“TOR”) are prepared by the International FinanceCorporation (“IFC”) for the selection of a consulting firm to conduct a legal, tax, regulatory and institutional landscape assessment of capital marketinstruments in Indonesia (the “Project”).AboutIFC: IFC — a member of the World Bank Group — is the largest globaldevelopment institution focused on the private sector in emerging markets. Wework in more than 100 countries, using our capital, expertise, and influence tocreate markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financialinstitutions in developing countries, leveraging private sector solutions andmobilizing private capital to create a world free of poverty on a livableplanet. For additional information, visit www.ifc.org.Context:Well-developeddomestic capital markets are key drivers of economic growth. They are crucialfor efficient resource allocation, providing governments and corporates accessto long term, funding leveraging diversified instruments. They addressfinancial constraints, promote investments in innovation and sustainability andfoster job creation.ForIndonesia to achieve high-income status by 2030 and close the funding gaprequired to meet its NDC and SDG targets, deepening capital markets will beessential. Today, Indonesia-s capital markets remain underdeveloped relative toregional peers. Equity market capitalization is low, secondary market liquidityis limited, and corporate bond issuance is constrained by short tenors and lowinvestor appetite. Domestic institutional investors are risk-averse, withlimited allocations to capital market instruments. Regulatory gaps exist inareas such as securitization, digital securities and alternative investmentvehicles. Recently, Indonesia-s Financial Services Authority (OJK) stated its top developmentpillars for Capital Market, which includes increasing supply of listedcompanies and boosting mark...
Documents
Tender Notice
REOI_IndonesiaCMD_29102025.pdf