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Citi, OPIC and Danamon fund microfinance scheme
03 August 2011
Citi, OPIC and Bank Danamon are supporting the rapid growth of the Indonesian microfinance sector with $20 million in funding.
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Citi Indonesia, the Overseas Private Investment Corporation (OPIC) and Bank Danamon have closed a $20 Million term loan to fund the growth of Bank Danamon’s Microfinance programme, Danamon Simpan Pinjam (DSP), and to promote the financial inclusion of microentrepreneurs and small businesses in Indonesia. This loan will be the first from Citi and OPIC for the microfinance sector in Indonesia, and is a part of Citi’s and OPIC’s $250 million joint global initiative to support microfinance lending in emerging markets worldwide.
“Microfinance...
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