Pandemic expediting financial inclusion: Finance minister

03-Dec-2021 Intellasia | AntaraNews | 5:02 AM Print This Post

The COVID-19 pandemic has accelerated financial inclusion, with many Indonesian people receiving assistance in digital technology adoption, minister of Finance Sri Mulyani Indrawati highlighted.

“With technology and collaboration, we have encouraged the acceleration of financial inclusion,” she said here on Thursday

There has been a rise in financial inclusion as a result of the government’s efforts to distribute social aid to the people so that they can survive the pandemic, the minister explained.

The social aid has so far reached almost all Indonesians, especially 40 percent of the people with the poorest social and economic circumstances who did not even have access to banks, she said.

According to Indrawati, the distribution of social aid under programmes such as the Family Hope Programme (PKH) to 10 million families led to the creation of banking accounts for those who did not have them.

“They never had any banking account. However, because of the transfer from the government, we carried out financial inclusion because the aid was transferred into (banking) accounts,” the minister elaborated.

However, there were still regions that had not been reached by banks, so the social aid was given through post offices, she said.

Indrawati said she will ensure that the government continues to expand the development of digital technology infrastructure, primarily in 20 thousand villages that do not yet have access in order to maximise financial inclusion.

“This is a very Islamic justice, namely how the government conducts investment in the information technology sector in Indonesia’s entire regions,” she affirmed.

Earlier, the minister had said that digital transformation is crucial for the survival of micro, small, and medium enterprises and the acceleration of COVID-19 recovery.


Category: Indonesia

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