The Asian Development Bank (ADB) has approved a US$500 million loan to support Indonesia’s effort to expand access to funding for micro, small and medium enterprises (MSMEs) and marginalized groups, such as women and youth.
The loan is part of the multilateral financial institution’s program to promote innovative financial inclusion aimed at helping the government target and track financial inclusion and improve the payments infrastructure, the ADB said in a statement on Wednesday.
It is also expected to strengthen the regulatory framework for digital financial services, data privacy, consumer protection and financial literacy, the bank added.
“The program’s reforms support policy and technology enablers to foster innovations and boost financial inclusion by providing access to formal financial products and services, improving their quality and increasing…
Source : From the Web