PRESS RELEASE | On International Women’s Day, Indonesia Announces Partnership with Women’s World Banking to Improve Women’s Financial Inclusion

March 8, 2017

For Immediate Release

Women’s World Banking, Maura Hart, +1 212 556 3156 or
The Secretariat of The National Council of Financial Inclusion, A. Heri Susanto, +62 21 3521843

On International Women’s Day, the Secretariat of the National Council for Financial Inclusion of Indonesia (Secretariat) and global nonprofit Women’s World Banking announce a partnership to promote women’s financial inclusion in Indonesia. The project, made possible with funding from the Department of Foreign and Trade of Australia (DFAT), will support Indonesia’s goal to reach 75 percent financial inclusion by 2019.

“This partnership will be of great benefit to the implementation of the National Financial Inclusion Strategy in Indonesia. We are strongly committed to overcoming barriers preventing women from accessing financial services and encouraging women to participate in developing the national economy,” said Iskandar Simorangkir, Deputy Minister for Macroeconomic and Financial Affairs Coordination, The Coordinating Ministry for Economic Affairs, The Republic of Indonesia.

According to the World Bank’s 2014 Global Findex data, only 37 percent of women in Indonesia have an account at a formal financial institution. The country’s recently launched National Financial Inclusion Strategy aims to address this gap by developing programs to empower women in unbanked and underbanked segments.

“As we celebrate International Women’s Day, we commend Indonesia for committing to bringing women security and prosperity through vital financial services,” said Mary Ellen Iskenderian, President and CEO of Women’s World Banking. “We look forward to supporting the ambitious National Financial Inclusion Strategy by working to research and develop innovative financial tools for the unbanked people of Indonesia.”

Low-income women in Indonesia and around the world often face barriers to accessing financial services, such as a safe place to save, due to mobility and time constraints as well as low levels of financial literacy. Through this partnership, Women’s World Banking will support the Secretariat in developing effective strategies to overcome these longstanding barriers for women, leveraging the nonprofit’s global experience in designing financial products, marketing and consumer education strategies, as well as operating models that work for women.