Industry News

BI extends minimum credit card repayment to mid-2022

  Bank Indonesia (BI) extended the minimum credit card payment limit of 5% to mid-2022. The central bank, or BI, also extended the reduction in late payment penalties as one of the measures to support the ongoing economic recovery. According

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Climate And Green News

ADB commits US$ 100 billion to address climate change

The Asian Development Bank (ADB) will increase its allocation to address climate change from US$ 80 billion to US$ 100 billion (IDR 1,422 trillion). These funds will be provided to ADB member countries in stages until 2030. The funds will

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SME News

Launching “City of the Future” program to reach MSMEs

Grab, Emtek, and Bukalapak launched “City of the Future”, an extensive accelerator program targeting Micro, Small and Medium Enterprises (MSMEs) in smaller cities, and peri-urban areas. The program focuses on three priorities: (1) vaccination, (2) adoption of digital platforms, and

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Start up News

Indonesia’s digital startups to attract more funding

  The Minister of Communication and Information (Kominfo) expects Indonesia to have two decacorns (startups with a valuation >US$ 10 billion), following Gojek’s success. Kominfo estimates Indonesia’s digital economy to reach US$ 124 billion by 2025 and US$ 315.5 billion

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Fintech News

Fintech peer-to-peer lenders continue to expand outside Java

  In line with OJK’s urge for fintech peer-to-peer lenders to increase lending outside Java, many alternative lenders have adopted varied strategies to expand their geographic reach. For example, fintech Danamas plans to increase its non-Java region lending from US$

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Policy/Regulation News

OJK forms Sustainable Finance Task Force

  The Financial Services Authority (“OJK”) formed a task force (“Satgas”) to create a roadmap for Phase II of the Sustainable Finance principles for 2021-2025. The task force consists of 47 financial service institutions from the banking, capital markets and

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Macro News

Indonesian government has disbursed US$4.3 billion to MSME sector

  The government has allocated a budget of US$6.7 billion (IDR95.13 trillion) for the MSME sector through the National Economic Recovery (“PEN”) program this year. Coordinating Minister for Economic Affairs, Airlangga Hartarto, said the current realisation is 64.8%, reaching 32.72

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Climate And Green News

8 Startups Including Gojek Enter the Green Economy

  The latest report by Bain, Microsoft and Temasek Holdings, highlights the green economy opportunity in Southeast Asia. Currently, there are at least eight startups in Indonesia, including Gojek, investing in decarbonisation initiatives. The report highlights an investment gap of

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