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Abstrak :
ABSTRAK
Penelitian ini membahas Faktor-Faktor Yang Mempengaruhi Persiapan Penerbitan Obligasi Daerah baik dalam maupun sekitar organisasi sebagai alternatif pembiayaan pembangunan infrastruktur. Penelitian ini menggunakan pendekatan post positivist, dengan menggunakan teknik pengumpulan data secara kualitatif melalui wawancara mendalam dan studi literatur. Rencana penerbitan obligasi daerah di Provinsi Jawa Barat sudah dikaji sejak tahun 2012. Hasil penelitian dari rencana penerbitan obligasi daerah pada Provinsi Jawa Barat adalah sudah siap jika ditinjau dari penilaian keuangan. Namun, secara penilaian administratif masih ada beberapa hal yang harus diperhatikan. Diketahui pula hal tersebut dipengaruhi oleh kurangnya komitmen pemerintah dalam hal peraturan dasar obligasi daerah yang kurang memadai untuk menerbitkan obligasi daerah, belum adanya sinergi antar lembaga yang terlibat, dan tingginya pajak yang dikenakan atas tingkat bunga dan/atau diskonto obligasi daerah yang dapat menyebabkan kurangnya minat investor serta sulitnya obligasi daerah untuk dapat berkompetisi baik di tingkat lokal, nasional, maupun global.

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ABSTRACT
This study discusses Factors Affecting the Preparation of Bond Issuance in both within and around the organization as an alternative financing infrastructure development. This research uses post positivist approach, using qualitative data collection technique through in depth interview and literature study. The plan to issue local bonds in West Java Province has been studied since 2012. The research results of the planned issuance of regional bonds in West Java Province is ready when viewed from the financial valuation. However, in administrative assessment there are still some things to be considered. It is also influenced by the lack of government commitment in terms of inadequate local bond regulations to issue local bonds, the absence of synergies between the agencies involved, and the high taxes imposed on the interest rate and or discounted regional bonds that may lead to a lack of interest Investors and the difficulties of local bonds to compete at the local, national, and global levels.

Abstrak :
Meskipun Indonesia memiliki potensi besar untuk sumber energi terbarukan, beberapa penelitian menunjukkan bahwa pemanfaatan energi terbarukan di negara ini masih relatif rendah. Salah satu penyebab utama lambatnya perkembangan pemanfaatan energi terbarukan di Indonesia adalah terkait dengan terbatasnya pembiayaan proyek. Dalam pengaturan ini, Efek Bersifat Utang Berwawasan Lingkungan Daerah berfungsi sebagai cara alternatif untuk membiayai proyek-proyek energi terbarukan. Meskipun peraturan di Indonesia saat ini telah mengizinkan penerbitan Efek Bersifat Utang Berwawasan Lingkungan oleh pemerintah daerah, sampai saat ini belum ada penerbitan Efek Bersifat Utang Berwawasan Lingkungan di Indonesia yang dilakukan oleh pemerintah daerah. Di Prancis dan Afrika Selatan, Efek Bersifat Utang Berwawasan Lingkungan Daerah telah terbukti berhasil untuk menjadi metode pembiayaan proyek untuk proyek energi terbarukan. Skripsi ini berusaha menganalisis pendekatan terbaik untuk menerbitkan Efek Bersifat Utang Berwawasan Lingkungan Daerah di dua negara utama, yaitu Prancis dan Afrika Selatan, dan memberikan rekomendasi bagi Indonesia terkait penerbitan Efek Bersifat Utang Berwawasan Lingkungan Daerah. Pendekatan hukum-normatif digunakan dalam penelitian ini dikombinasikan dengan studi literatur. Kesimpulannya, kerangka peraturan Indonesia telah memungkinkan penerbitan Efek Bersifat Utang Berwawasan Lingkungan Daerah, tetapi negara ini masih perlu mengembangkan kerangka kerja komprehensif yang akan menjadi standar bagi pemerintah daerah yang menerbitkan Efek Bersifat Utang Berwawasan Lingkungan Daerah. ......Despite Indonesia's massive potential for renewable energy sources, multiple studies have shown that the nation utilizes relatively low renewable energy. One of the primary reasons behind the slow development of renewable energy utilization in Indonesia is related to the limited measures of project financing. Green municipal bonds are alternative financing for renewable energy projects in this setting. Although Indonesia's current legislation has permitted the issuance of green bonds by local governments, there is no precedent of green municipal bonds issuance in Indonesia. In nations like France and South Africa, green municipal bonds have proven to be a successful means of project financing for renewable energy projects. This thesis seeks to analyze the best approaches for issuing green municipal bonds in two key countries, France and South Africa, and to provide recommendations for Indonesia regarding issuing green municipal bonds. A legal-normative approach is used in this study, combined with a literature study. This research concludes that Indonesia's regulatory environment has enabled the issuance of green municipal bonds. However, the country still needs to develop a comprehensive green municipal bonds issuance framework that would serve as a standard for local governments issuing green municipal bonds.

Abstrak :
Regional development is an integral part of national development and in line with the principles of fiscal decentralization and regional autonomy. Regional autonomy and fiscal decentralization is a process that is dynamic. In practice, implementation of regional autonomy and fiscal decentralization meant that the region can manage its own finances effectivelyefficiently and accmmtably in order to fund their duties of government provide better public services and creating public decision-making process more democratic. In order to accelerate regional development funds which are not needed less. In the state of region income and Balance Fund as a major source of local revenue is limited, local government is required to explore other revenue sources so as not to hamper the development process, one of which is through the issuance of Islamic Municipal Bonds (Sukuk). To be able to use tl1e Sukuk as an instrument of regional development fmancing, local government must follow the statutory regulations applicable, comply with Sharia compliance and consider the factors that influence the ability of the region, namely capital spending, third party funds and labor force participation rate. Regional groups that have low capital budget, the position of the banking deposits in low-and low labor force participation rate has a probability can be issued Sukuk amounting to 39.35%. Factors affecting the ability of regions to issue Sukuk is a factor in third party funds in the high category. While both categories of factors are capital expenditures and higher categories, third party funding and the medium category of labor force participation rate of both categories of medium and high categories showed no statistically significant effect