JAKARTA – Bank Indonesia (BI) emphasizes the importance of digital financial inclusion and financing to encourage digitalization which has an impact on increasing productivity, as well as an inclusive and sustainable economy, especially for MSMEs.
Head of the Communications Department Erwin Haryono said that there are at least four important points to increase financial inclusion. First, to continue to take advantage of digital opportunities that are seen as increasingly important so as to reduce the inequality that arises due to various global challenges in the midst of the ongoing economic recovery.
"We emphasize the importance of making an inventory of various case studies that can encourage digitalization and innovation efforts," he said in an official statement after a series of G20 meetings this weekend, quoted on Sunday, May 15.
Second, strengthening MSME financing guidelines by considering the increasing role of fintech, increasing MSME resilience in times of crisis, assisting MSMEs in the green transition, and the need for the availability of granular data to help MSMEs access financing.
"Then the third is increasing the role and potential of youth and women to achieve an inclusive economy, as well as the need to accelerate financing to entrepreneurs, especially women," he said.
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Meanwhile, the fourth is the need for efforts to encourage the use of digitalization to achieve financial inclusion through the implementation of the G20 High-Level Principles (HLPs) for Digital Financial Inclusion which are not only aimed at G20 member countries but also non-members.
"In particular, GPFI underlines the importance of strengthening digital literacy and strengthening consumer protection principles to encourage financial and economic inclusion," he stressed.
For information, this weekend the 2nd Global Partnership for Financial Inclusion (GPFI) Plenary Meeting held by the G20 Presidency of Indonesia, led jointly by the Bank of Italy as co-chair and BI and the Ministry of Finance on a hybrid basis on 12-13 May 2022 in Nusa Dua, Bali. GPFI itself is a G20 working team that focuses on promoting financial inclusion.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
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