DIGIVESTASI - The Asian Development Bank (ADB) has approved a loan of 500 million USD, equivalent to around IDR 7.93 trillion, to support the promotion of financial inclusion in Indonesia. The funds will be used to expand access to financial services for vulnerable groups, including micro, small, and medium enterprises (MSMEs), women, youth, and residents in rural areas.

ADB’s Director for Indonesia, Jiro Tominaga, stated that this loan is the third subprogram of the Innovative Financial Inclusion program, aimed at supporting reforms in Indonesia’s financial sector to make it more inclusive.

“This program focuses on three main areas: improving financial inclusion infrastructure, increasing access to financial services for marginalized groups, and strengthening consumer protection through the use of technology and financial innovation,” he said in a written statement on Thursday (December 5, 2024).

Jiro added that, with support for macroeconomic stability and solid financial policies, financial inclusion in Indonesia, including in remote areas, will continue to grow through the utilization of digital technology.

“ADB is proud to support Indonesia’s commitment to enhancing financial inclusion through this program,” he said.

He explained that the combination of digital innovation and the right support for vulnerable groups will create a more inclusive and resilient financial sector. ADB is committed to helping Indonesia achieve universal access to financial services.

Jiro further mentioned that this program will expand financial inclusion in Indonesia through various initiatives, such as the development of the digital financial ecosystem, the implementation of the Bank Indonesia 2025 Payment System Blueprint, improving financial access in rural areas, supporting MSMEs in eastern Indonesia, and accelerating digital transformation for women’s financial access.

“Building on ADB’s support since 2020, this third subprogram also addresses new challenges, including the impact of climate change on marginalized populations, to enhance their resilience and financial well-being,” he added.

Jiro stated that ADB is committed to creating a more prosperous, inclusive, resilient, and sustainable Asia and Pacific region, and will continue to work toward eradicating extreme poverty.

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