Japan's Sumitomo Mitsui Banking Corporation (SMBC) has acquired a 14.9 percent stake in Indonesia Infrastructure Finance (IIF), boosting the local infrastructure financing agency's capitalization to 200 million U.S. dollars, the Jakarta Post quoted an official as saying on Wednesday.

"With strong support from SMBC's financial capability and technical knowledge in project financing, I am sure that we can realize our mission to accelerate infrastructure development in Indonesia," Kartiko Wirjoatmodjo, president director of IIF, said.

The company, owned by multilateral stakeholders including International Finance Corporation (IFC) and Asian Development Bank (ADB), aimed to finance projects worth 170 million dollars this year in five priority sectors -- power plants, toll roads, clean water procurement, ports and telecommunication infrastructure.