JAKARTA, Indonesia, Oct. 15, 2026 /PRNewswire/ -- Reynaldi Hermansjah, President Director of PT Sarana Multi Infrastruktur (Persero) (PT SMI), has highlighted the importance of closer collaboration among Development Finance Institutions (DFIs) across Asia and the Pacific, alongside strong governance and financial innovation. His remarks follow his participation in the 49th ADFIAP Annual Meeting, held on 23-25 September 2026, in Colombo, Sri Lanka, which brought together DFI leaders from across the region.
"Over three days of formal sessions and informal conversations, one theme kept resurfacing: the infrastructure gap facing our region is too large for any single government, or any single institution, to close alone," said Reynaldi.
During the meeting, several fellow members asked how PT SMI brings financing, advisory, and blended finance together under one institution, a combination few DFIs in the region currently operate. Reynaldi said the discussions were a useful reminder that Indonesia's development finance institution has as much to offer the regional community as it has to learn from it.
The scale of the challenge is significant. The Asian Development Bank (ADB) estimated in 2017 that developing Asia needs roughly US$1.7 trillion a year in infrastructure investment through 2030. Indonesia reflects the same pattern: projections cited by the Government of Indonesia show infrastructure investment needs of around US$625 billion between 2025 and 2029, of which central and regional government budgets can cover only about 40 percent.
According to Reynaldi, the fundamental challenge lies not only in raising more capital, but in directing it toward outcomes that advance sustainable development. It is in meeting this challenge, he said, that DFIs earn their relevance and mandate.
PT SMI, a state-owned non-bank financial institution operating under the Ministry of Finance of the Republic of Indonesia, was established not to compete as a conventional lender but to play a catalytic role in the development ecosystem: bridging gaps, mitigating risks, and crowding in investment in sectors and projects where private capital alone may be hesitant to engage. According to Reynaldi, this mandate is realized most clearly through project preparation, an often underappreciated but indispensable process that helps turn promising ideas into viable opportunities for financing.
Through its Project Development Facility, PT SMI has advised on 35 projects worth close to US$44 billion across eleven infrastructure sectors since 2011, helping them progress toward bankability and, ultimately, financial close. The company's experience in blended finance, through platforms such as SDG Indonesia One and its role as Country Platform Manager for Indonesia's Energy Transition Mechanism, points to the same lesson: capital flows more easily when different institutions and instruments work together rather than in parallel.
Reynaldi noted that financial innovation is not the whole story. As Asia-Pacific's DFIs seek to be seen as trusted partners by governments, multilateral institutions, and global capital markets, he said innovation must be matched by equally steady governance. "Compliance, transparency, and sound institutional procedure are never just formalities. They are often the quiet difference between an institution that is innovative and one that is also, over time, trusted."
He added that the same principle applies to the regional associations that bring DFIs together. Such bodies convene, set standards, and speak on behalf of their members to governments, multilateral lenders, and global investors, an influence that rests on credibility. ADFIAP, which traces its roots to 1976 and was established under the auspices of the Asian Development Bank, is a case in point: half a century on, many of its members see in it the potential to represent Asia-Pacific's development finance community on a wider international stage.
"Realizing that potential will depend as much on how the association works as on what it sets out to achieve," Reynaldi said. "Clear and consistently applied procedures, timely and open communication with members, and decision-making that reflects the views of the wider membership are what allow an organization to speak with authority on behalf of others. An association that champions these standards across the region is at its most persuasive when it visibly practices them at home."
Drawing on its experience of operating within Indonesia's public-sector governance and oversight framework, PT SMI has expressed its readiness to share lessons and to contribute actively, alongside fellow members, to strengthening ADFIAP's governance and openness. Reynaldi noted that a well-governed, transparent, and accountable association serves all its members well and is more likely to be taken seriously by the wider world.
Reynaldi described Indonesia's journey, and PT SMI's contribution to it, as one part of a broader regional narrative. He said he returned from Colombo optimistic that the region's development finance institutions are becoming more than financiers of growth, evolving into a community of practice united by a shared purpose and enriched by the exchange of ideas and experience.
"The infrastructure that will shape our region's future will be built one bankable project at a time, and the trust and cooperation that sustain it will be built institution by institution, partnership by partnership. Neither is something a single institution can achieve alone, but both are things we can accomplish together."
About PT Sarana Multi Infrastruktur (Persero)
PT Sarana Multi Infrastruktur (Persero), established on February 26, 2009, is a State-Owned Enterprise under the coordination of the Ministry of Finance, operating as a Non-Bank Financial Institution with a mandate to serve as an agent of sustainable development. PT SMI's business is built on three pillars: Commercial Financing, Public Financing, and Advisory and Project Development Services.
Beyond its core role as an infrastructure financier, PT SMI functions as a development enabler, offering a range of distinctive products and services that support the acceleration of infrastructure development — including the implementation of Public-Private Partnership (PPP) schemes that bring together private and multilateral financial institutions. PT SMI actively supports the execution of PPP projects and drives infrastructure development at the regional level through its regional lending products.
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PT SMI President Director: Asia-Pacific Needs Stronger DFIs
New "DISCOVER" Channel Connects Global Shoppers with Curated Brands and Distinctive Products from China
SINGAPORE, Oct. 15, 2026 /PRNewswire/ -- Taobao Tmall World ("Taobao") today announced a comprehensive upgrade to its cross-border shopping experience, expanding direct access worldwide to curated stores and products from China known for their quality, distinctiveness, and originality. Taobao has identified a trend in cross-border demand for Chinese goods, from seeking "low prices" to prioritizing "distinctiveness" and "quality." To meet this evolving need, Taobao is leveraging its catalog of over 3 billion products available for cross-border purchase and its trusted official logistics network. On the supply side, Taobao is combining AI with human curation through a four-criteria selection framework – Quality, Distinctiveness, Price Competitiveness, and Service – to establish the "Taobao Curated Supply System", which systematically identifies distinctive, well-made stores and products and recommends them to cross-border shoppers on an ongoing basis. At the same time, the app is refining its recommendation algorithms, enhancing AI shopping assistants, and launching the new "DISCOVER" channel to spotlight distinctive brands.
Kicking off with the Double 11 Festival, Taobao is partnering with popular actor Zhang Linghe to promote to cross-border shoppers worldwide the six refreshed experiences of the "Everything and Anything" brand following its comprehensive upgrade: QUALITY, TASTE, LIFESTYLE, TRENDY, SMART, and SURPRISE. This move leads cross-border e-commerce from traditional "shelf-based search" into a new era of "discovery-driven shopping."
Global Demand for Original Chinese Brands Keeps Heating Up
Riding the "Quality and Distinctiveness" Wave, Taobao Unveils Six Refreshed User Experiences
In recent years, original Chinese products and content, including designer toys, dramas, animation, and games, have captivated global audiences. Many international travelers use the Taobao app the moment they arrive in China, ordering unique finds and having them delivered directly to their hotels. This growing demand for discovering distinctive "original Chinese brands and products" that are hard to find locally continues to gain momentum in many different ways. Taobao has also observed a clear shift in cross-border shopping preferences: from price-driven purchases to those centered on quality, distinctiveness, and personal taste. During the 2025 Double 11 Festival, the number of cross-border users choosing higher-priced items increased significantly, with high-value shoppers (spending over RMB 500 per order) growing by 10% year-on-year. The data shows that cross-border consumers are moving beyond basic availability and affordability toward a higher standard: "buying quality and buying distinctive."
Ye Tian, General Manager of Taobao Tmall World, said: "The core value of Taobao is anchored in a cross-border catalog of over 3 billion products offering quality at competitive prices, reinforced by trusted cross-border logistics and localized services we have been building in individual markets over time. This ecosystem empowers cross-border users to fulfill diverse lifestyle needs and express personal style through shopping. Responding to users' increasingly evolving expectations, we have launched an upgrade across six refreshed user experiences this year—spanning a curated supply system built on the four criteria of quality, distinctiveness, price competitiveness, and service, in-app feature enhancements, the new DISCOVER channel, advanced AI shopping assistants, a redesigned user interface for cross-border shoppers, and upgraded cross-border logistics. Every critical touchpoint in the cross-border shopping journey has been refreshed. We invite users everywhere to open the Taobao app now and experience the joy of discovery-driven shopping on 'Everything and Anything' firsthand."
Responding to the global trend, Taobao strengthens the "Everything and Anything" brand value globally, meeting users' needs in each market for more personalized, more joyful everyday exploration and discovery. The six refreshed user experiences are defined as follows:
- QUALITY: Enjoy Trusted Quality on Taobao.
- TASTE: Shop Stylish Designs on Taobao.
- LIFESTYLE: Embrace Diverse Lifestyle on Taobao.
- TRENDY: Catch the Viral Trends on Taobao.
- SMART: Upgrade to a Smarter Life on Taobao.
- SURPRISE: Discover Unexpected Finds on Taobao.
More than Choice, Value and Local Service: Discover Exclusive Products on Taobao
New Curated Supply System Brings China's Signature Stores to the World
Taobao's strength in product selection is powered by China's comprehensive and agile manufacturing supply chain and its vibrant merchant ecosystem. Cross-border users can already buy over 3 billion products on Taobao, spanning apparel and accessories, home and furniture, smart electronics, pet supplies, designer toys, sports and outdoor products, and more – meeting everyday needs while serving niche interests and fast-moving trends. This delivers Taobao's signature "Everything and Anything" promise: whatever you need, always within reach.
With this brand experience upgrade, Taobao is further strengthening its supply of distinctive stores and products, making it easier for cross-border users to discover well-made and well-designed stores from China. Building on existing breadth, efficiency and price advantage, Taobao has applied its four criteria - quality, distinctiveness, price competitiveness, and service – and integrated AI-driven selection with human expertise to build a systematic curation framework. From the vast catalog, it has unearthed over 4,000 original-brand stores and 6 million curated products, creating a distinctive selection of products for cross-border shoppers. Through dynamic updates and always-on recommendations, users need only open the Taobao app to instantly find quality goods, new trends, and distinctive items rarely seen in their local markets.
From Shelf-Based Search to the Joy of Discovery
Taobao "DISCOVER" Channel Is Live — Curated Finds, Premium Quality, Endless Joy
The all-new DISCOVER channel is now live. Built on the Taobao Curated Supply System, it organizes distinctive stores and products into 15 themed categories – women's fashion, women's footwear, menswear, furniture, toys, stationery, pet supplies, fitness, and automotive accessories, among others – tailored to the categories, interests and lifestyles cross-border users love most. Powered by an upgraded personalization algorithm, the channel surfaces stores and curated items upon entry. Users can explore brands' signature aesthetics, hero products, and brand story, effortlessly finding pieces that match their personal style and taste.
Note: The DISCOVER feature is only available on the Chinese version of the Taobao app. The multilingual version does not support this function.
Taobao is also continuing to refine its AI shopping assistant suite, including AI Try-On, AI Virtual Makeup, AR Room Placement for furniture, Voice-Search-by-Hold, and AI Pet Care Guides. These tools help users judge sizing, how pieces coordinate, and how large furniture will look in their space, removing friction from buying certain categories online. Taobao will also roll out more than 30 AI Lifestyle Experts covering topics such as styling and baking. Through in-depth conversation, these AI experts help users pinpoint their true needs and cut through choice overload, helping them find products that better meet their needs amidst a vast catalog.
Regarding localized content, the Taobao app regularly publishes local topic series such as "Taobao NowWear," "Taobao Trend," and local rankings, weaving product discovery into the topics local shoppers are already buzzing about and bringing the shopping experience closer to everyday needs.
Taobao Official Logistics: A Comprehensive Upgrade for Seamless Global Delivery
On-Time Delivery with Loss/Damage Compensation • Flat-Rate Shipping for Bulky Items • Easier Local Return Experience
Since 2016, Taobao has continuously invested in cross-border infrastructure, culminating in a direct-shipping network covering 20 markets by 2025, with free shipping introduced in select markets. This year, Taobao Official Logistics takes another step up, elevating the user experience through three core pillars - GUARANTEE, CONVENIENCE, and ASSURANCE – to deliver a trustworthy and highly predictable journey for cross-border users.
- GUARANTEE: Taobao's official logistics guarantees cross-border users both transparent costs and stable delivery times — a dual certainty. Depending on market conditions, Taobao offers tiered delivery commitments such as 1-, 3- and 6-day options, so Taobao's specialty goods arrive on the scheduled date at the agreed shipping cost.
- CONVENIENCE: Simpler, within-reach cross-border logistics — one-tap direct shipping, end-to-end parcel tracking, and flat-rate direct shipping for bulky items across 10 markets worldwide. And Taobao Official Logistics now offers door-to-door delivery and installation in Hong Kong, China. Singapore has already reached a milestone of free shipping on large furniture, significantly lowering the barrier to using cross-border logistics.
- ASSURANCE: Taobao promises compensation for any lost or damaged parcel, backed by one-stop platform customer service that assists users throughout the process. The Local Returns service is further upgraded in 13 markets, so more cross-border users can return items conveniently nearby.
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Taobao Upgrades 6 Refreshed Experiences for Cross-Border Users
Taobao Upgrades 6 Refreshed Experiences for Cross-Border Users
Taobao Upgrades 6 Refreshed Experiences for Cross-Border Users
