IFC signed MoU with BTPN and SMBC to foster green financing and financial inclusion in Indonesia

The International Finance Corporation (IFC), the private sector lending arm of the World Bank Group and one of the world’s largest financiers of climate-smart projects, has signed a Memorandum of Understanding (MoU) with Bank Tabungan Pensiunan Nasional (BTPN) and Sumitomo Mitsui Banking Corporation (SMBC) to promote financial inclusion and green financing in Indonesia.

According to a study commissioned by the IFC, the MSME financing gap in Indonesia is USD 11bn annually. Meanwhile, the country is the fourth most populated in the world, and the fourth largest greenhouse gas emitter.

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