PENILAIAN KAPASITAS DAERAH DALAM PENERBITAN OBLIGASI DAERAH SEBAGAI ALTERNATIF PEMBIAYAAN INFRASTRUKTUR (STUDI KASUS: PROVINSI JAWA BARAT)

• Main Author: Rizka Avianti, Nadia
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/51772
• Institution: Institut Teknologi Bandung

A municipal bond is an alternative local government financing instrument that involves the community as investors. Law Number 33 of 2004 and Government Regulation Number 54 of 2005 provide opportunities for local governments in Indonesia to raise funds from issuing municipal bonds. However, until now there has been no local government in Indonesia that has succeeded in issuing municipal bonds due to various factors. The extent to which local governments are able to issue and manage municipal bonds is largely determined by local capacity. In this research, local capacity was viewed from the aspect of fiscal and institutional capacity of West Java Province as a case study. The local capacity assessment was carried out using the assessment framework generated from literature review. The analysis was carried out using descriptive analysis and content analysis to process primary data in the form of questionnaires and interviews with key informants and supporting secondary data. From the research conducted, it was found that West Java Province has a very good local financial capacity with a financial capacity index of 99.07% and a good local institutional capacity with an institutional capacity index of 71.75%. Although in general West Java Province has a very good local capacity (90.41%), there are still several things that can be improved, especially related to the capacity of local institutions to optimize the issuance of municipal bonds by West Java Province to finance four local infrastructure projects, namely projects development of Al-Ihsan Regional Hospital, procurement and installation of Solar Power Plants in 173 SMA/SMK, development of BIJB-Cisumdawu/Cipali accessibility, and construction of BIJB flyovers at KM 152 Cipali.