Indonesia : Promoting Innovative Financial Inclusion Program (Subprogram 1)
The programmatic approach supports the government's ongoing efforts to further enhance financial inclusion. It will (i) improve the government's capabilities to better target and track financial inclusion efforts and enhance supporting infrastructure; (ii) directly increase access to finance for micro, small, and medium-sized enterprises (MSMEs) and the underserved using innovative technology; and (iii) strengthen the regulatory framework for digital financial services, data privacy, and consumer protection.
Project Details
-
Project Officer
Jayawardana, Poornima G.W.
Southeast Asia Department
Request for information -
Country/Economy
Indonesia -
Sector
- Finance
Related Projects
| Project Name | Promoting Innovative Financial Inclusion Program (Subprogram 1) | ||||||||
| Project Number | 52218-001 | ||||||||
| Country / Economy | Indonesia |
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| Project Status | Closed | ||||||||
| Project Type / Modality of Assistance | Loan |
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| Source of Funding / Amount |
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| Operational Priorities | OP1: Addressing remaining poverty and reducing inequalities OP2: Accelerating progress in gender equality OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Gender Equity and Mainstreaming Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Finance / Inclusive finance |
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| Gender Equity and Mainstreaming | Gender equity | ||||||||
| Description | The programmatic approach supports the government's ongoing efforts to further enhance financial inclusion. It will (i) improve the government's capabilities to better target and track financial inclusion efforts and enhance supporting infrastructure; (ii) directly increase access to finance for micro, small, and medium-sized enterprises (MSMEs) and the underserved using innovative technology; and (iii) strengthen the regulatory framework for digital financial services, data privacy, and consumer protection. | ||||||||
| Project Rationale and Linkage to Country/Regional Strategy | To address the challenge of poverty and inequality, the government is pursuing a comprehensive program with a strong focus on financial inclusion. | ||||||||
| Impact | Public access to formal financial services improved (National Strategy for Financial Inclusion, 2016) |
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| Project Outcome | |
|---|---|
| Description of Outcome | A more inclusive financial services sector |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Tools and infrastructure for financial inclusion Access to finance by MSMEs and marginalized groups including women and youth Supervision and consumer protection framework for responsible financial inclusion |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Jayawardana, Poornima G.W. |
| Responsible ADB Department | Southeast Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
| Executing Agencies |
Fiscal Policy Office-Ministry of Finance |
| Timetable | |
|---|---|
| Concept Clearance | 05 Jun 2020 |
| Fact Finding | 20 Jul 2020 to 24 Jul 2020 |
| MRM | 15 Sep 2020 |
| Approval | 09 Dec 2020 |
| Last Review Mission | - |
| Last PDS Update | 09 Dec 2020 |
Loan 4038-INO
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 09 Dec 2020 | 22 Dec 2020 | 09 Feb 2021 | 31 Oct 2021 | - | 31 Oct 2021 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 500.00 | Cumulative Contract Awards | |||
| ADB | 500.00 | 17 Jun 2022 | 500.00 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 17 Jun 2022 | 500.00 | 0.00 | 100% |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| Loan Agreement (Ordinary Operations) for Loan 4038-INO: Promoting Innovative Financial Inclusion Program (Subprogram 1) | Loan Agreement (Ordinary Resources) | Dec 2020 |
| Promoting Innovative Financial Inclusion Program (Subprogram 1): Report and Recommendation of the President | Reports and Recommendations of the President | Nov 2020 |
| Promoting Innovative Financial Inclusion Program - Subprogram 1: Concept Paper | Concept Papers | Jun 2020 |
| Promoting Innovative Financial Inclusion Program (Subprogram 1): Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | May 2020 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
$500 Million ADB Loan to Expand Financial Inclusion in Indonesia
ADB has approved a $500 million policy-based loan to support the Government of Indonesia’s efforts to expand financial access among micro, small, and medium-sized enterprises and marginalized groups such as women and youth.
Tenders
Contracts Awarded
Procurement Plan
None currently available.