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Climate change related spending reaches IDR 112 trillion in 2021
The Ministry of Finance reported that the realization of spending related to climate-transition in 2021 has reached US$ 7.8 billion (IDR 112.74 trillion). The spending increased by US$ 2.8 billion (IDR 40.3 trillion), compared to 2020’s allocation, and made up
KIC Survey: Gen Z and Millennial consumers’ preference in online shopping
The Katadata Insight Center (KIC) and Zigi survey showed that the buy-now-pay-later credit product is gaining traction among the consumer segments: Generation Z and Millennials (age below 40). The popular product categories are fashion, credit balance top-up, and gadgets. Based
Koinworks raised Series C funding of US$108million
Fintech lending startup, KoinWorks, received US$108 million (IDR 1.6 trillion) in Series C funding. The funding round was led by MDI Ventures, the corporate venture capital arm of Telkom Indonesia. Other participating investors are Quona Capital, Triodos Investment Management, Saison
Fintech lending outlook for 2022
Latest OJK data revealed that there are only 103 licensed fintech lenders in Indonesia. Despite the decline in the number of fintech lenders, the industry’s credit disbursement has reached US$ ~908 million (IDR 12.97 trillion) as of November 2021, 51%
World Bank forecasts Indonesian economy to grow by 5.2%
The World Bank estimates that the Indonesian economy will grow by 5.2% this year, from 2021’s estimated economic growth at 3.7%. This is due to strong domestic demand and rising commodity prices. Meanwhile, the neighbouring countries’ economic growth forecasts are
PERBARINDO, BPR association, workshop on Digital Lending to MSME sector
[JANUARY 17, 2022] PERBARINDO, BPR Association, held an in-person workshop last month, to discuss challenges and different pathways for rural banks to conduct digital lending. The event was hosted by Nikel, a leading embedded lending technology company, that works with
Indonesia needs up to US$60 billion per year by 2050 to achieve decarbonization
The Institute for Essential Services Reform (IESR) has calculated the investment needed to accelerate the net zero emission (NZE) target or zero carbon emissions by 2050, especially for the electricity, transportation and industrial infrastructure sectors after 2030. IESR Executive Director,
OJK extends non-bank industry stimulus until 2023
The Financial Services Authority (OJK) has extended the Covid-19 stimulus policy in the Non-Bank Financial Industry (IKNB) sector, which was originally set to expire on April 17, 2022, to April 17, 2023. This policy extension includes restructuring activities by multi
Digital Banks to conduct direct lending in 2022
Digital banks, Bank Jago and Bank Neo Commerce, plan to launch loan products directly through their platform. Executive Director of the Indonesian Fintech Association (AFPI), Kuseryansah said, fintech peer-to-peer lenders do not consider digital banks as competitors, but as collaborators.
Bukalapak, Grab and Other Corporations invest in Digital Bank Allo
Bukalapak , CT Corp, Salim Group, Grab, Carro, and Growtheum Capital Partners have collectively invested into the capital pool of PT Allo Bank Indonesia, raising its capital base to more than US$420 million (IDR 6 trillion). This gives Allo Bank