In recent years, the concept of sustainable infrastructure has become a key concern for infrastructure development. However, there has been little comprehensive research on the enabling factors for sustainable infrastructure development. To address these knowledge gaps, this research conducted a systematic literature review of the enabling factors, with a specific focus on finance and governance, to provide new insights for development practitioners and academic scholars. The research first reviewed the characteristics of sustainable infrastructure, identifying several types of definitions. Subsequently, the research identified multiple finance arrangements and governance characteristics that have been applied to sustainable infrastructure. We confirmed that public-private partnerships (PPPs) and multilateral development banks (MDBs) play central and critical roles in leading and including other finance arrangements and governance characteristics of sustainable infrastructure development. In addition, the review suggests there are various governance modes combining horizontal process management with vertical project management for realizing sustainable infrastructure development.

In Indonesia, public–private partnerships (PPPs) schemes have been attracting a lot of attention to meet the huge demand for infrastructure developments. However, their applications are still limited and the financial close of a project tends to be behind the planned schedule. This research therefore aims to investigate the critical success factors (CSFs) causing fast/slow progress in the processes toward the financial close of PPPs toll road projects in Indonesia. The results revealed that, to realize smoother delivery of PPPs toll road projects in Indonesia to the financial close in the future, it is important to improve coordination among the related stakeholders especially between the central and local governments, though the other CSFs are currently well developed. The research also found an issue that should be addressed from a sustainability viewpoint, namely that the government highly depends on state-owned companies (SOEs) for a timely financial close of PPPs toll road projects.

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