JAKARTA - HSBC officially launched a $1 billion ASEAN Growth Fund funding platform.

The platform was launched to accelerate the expansion of digital companies in the rapidly growing ASEAN region.

HSBC Indonesia President Director Francois de Maricourt said the digital economy in Southeast Asia was one of the areas with the fastest growth in the world with a market value of US$218 billion in 2023.

In addition, Francois estimates the digital economy will grow to reach 600 billion US dollars by the end of the decade with an average growth rate (CAGR) of 16 percent.

Aiming to empower digital companies in the ASEAN region to achieve an optimal economic scale, develop an asset portfolio, and accelerate the business cycle, HSBC launched a unique and innovative funding platform with a total value of 1 billion US dollars.

Francois said that along with the value of the digital economy, which is estimated to reach 360 billion US dollars by 2030. His party is very enthusiastic about the development of the digital economy in ASEAN, including Indonesia.

"Indonesia is the center of digital economic growth in the ASEAN region. Therefore, we are proud to launch the HSBC ASEAN Growth Fund and work with digital companies to support expanding their business expansion in the ASEAN region and its surroundings," said Francois at the launch of the HSBC Asean Growth Fund as well as breaking the fast with the media, Wednesday, March 27, 2024.

According to Francois, HSBC ASEAN Growth Fund focuses on companies eyeing expansion into the Southeast Asian market. This funding supports companies in the new economic sector (new economy), corporations and non-bank financial institutions.

Francois added, taking into account business operational metrics related to the company's cash flow generative asset portfolio, compared to just benchmarking on traditional financial metrics.

"This latest launch of funding allows us to further support new economic companies (new economy) in Indonesia and ASEAN, including start-ups and emerging companies, as they expand to ASEAN and accelerate the business cycle." he said.


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