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Germany provides grant funding of US$69.2 million (IDR 1 trillion) for sustainable infrastructure development
The grant will be used to finance 16 projects that are aimed at reducing carbon emissions in Indonesia. The selected infrastructure projects focus on waste management and urban public transport. One project aims to reduce the rate of deforestation by
Modal Rakyat and Bank Jago signed a channeling facility towards MSMEs
Modal Rakyat, a peer-to-peer lending company, announced the partnership with Bank Jago to channel US$3.5 million (IDR50 billion) to MSMEs. Bank Jago, with a minority stake owned by Gojek, is one of the digital banks in Indonesia. Modal Rakyat also
PLN’s contribution to Indonesia’s net-zero carbon transition
During the 2021 UN Global Compact Virtual Leaders Summit, President Director of PLN (state-owned enterprise), Zulkifli Zaini, stated that they were prepared to lead the energy transition in Indonesia. PLN has also committed to using new and renewable energy to
Multifinance institution to issue green bonds
PT Sarana Multigriya Finansial (SMF), a multi finance institution, plans to collaborate with several experienced agencies to issue debt securities in the form of green/social bonds. SMF is developing a framework to determine qualifying criterias for green bonds in accordance
Precision agriculture to boost productivity
Minister of Agriculture (Mentan), Syahrul Yasin Limpo, encourages new generation farmers to apply smart farming technology in farm management. According to him, technology-driven agriculture practices and management is a key lever to increase productivity. Chairman of the Young Farmer Community
Indonesia builds economic centers outside Java
The Ministry of National Development Planning (PPN) directs regional development policies in 2022 to build new centers of economic growth outside Java. The policy aims to overcome regional disparities. Deputy for Regional Development at PPN shared that regional development next
Ministry of Health announces eligibility of young adults, aged 18+, for vaccination
DKI Jakarta residents, aged 18 years and over, are eligible to receive the Covid-19 vaccine. The Ministry of Health ensures the safety of the vaccines, namely the AstraZeneca vaccine. Meanwhile, the provincial governments have been asked to continue prioritizing the
Pay-later option as an alternative to credit
Research from Katadata Insight Center (KIC) and Kredivo shows that 27% of the 3,560 e-commerce shoppers paid by installments, or pay-later, during the past year. KIC Research Director Mulya Amri noted that digital wallets (e-wallet) were the main payment option
OJK reports that there are 7 banks in the process of transforming into digital banks
The 7 banks are BCA Digital, BRI, Bank Neo Commerce, Bank Capital, Bank Harda Internasional, Bank QNB Indonesia, and Bank KEB Hana. There are already 5 digital banks – Jenius from Bank BTPN, Wokee from Bank Bukopin, Digibank from DBS
Fintech lending is dominated by the banking sector
Most domestic fintech lending capital comes from the financial services industry, such as banking, non-bank financial institutions, and cooperatives. The banking sector has continued to be the main capital-provider for fintech lenders since the beginning of 2021, up to US$165
