World Bank Issues $300 M Loan to Boost Indonesia's Financial Sector

The World Bank has approved a $300 million loan to support the development of financial technology and inclusion in Indonesia.

According to the World Bank about half of the adult Indonesian population do not have access to bank accounts. It adds that the limited availability of financial services and lack of incentives for long-term savings “creates further risks for individuals and restricts investment opportunities in critical sectors, such as infrastructure.”

The development policy loan will provide budget support for Indonesia’s reform agenda in three key policy areas.