Standard Chartered Indonesia and PT Mitra Bisnis Keluarga Ventura Renew Partnership to Empower Women Entrepreneurs

Introduction

Standard Chartered Indonesia has extended its partnership with PT Mitra Bisnis Keluarga Ventura (MBK) through a new loan facility valued at Rp 385 billion. This initiative aims to support approximately 128,000 women across Indonesia, aligning with the Sustainable Development Goals (SDGs), particularly SDG 5 (Gender Equality) and SDG 8 (Decent Work and Economic Growth).

Loan Facility and Partnership Details

1. The financing facility was formalized in a signing ceremony attended by key representatives:
   • Shafiq Dhanani, MBK President Director and Founder
   • Donny Donosepoetro OBE, CEO of Standard Chartered Indonesia
   • Chrismanto Saragih, MBK Risk Director
   • Ervin Alfian, Head of Financial Institutions, Standard Chartered Indonesia
2. This renewed partnership builds upon the success of a previous facility extended in 2022, reinforcing Standard Chartered’s commitment to financial inclusion (SDG 1: No Poverty; SDG 10: Reduced Inequalities).

Commitment to Women’s Economic Empowerment

Donny Donosepoetro emphasized the importance of empowering women to achieve economic independence as a driver for inclusive growth. The collaboration with MBK enables the bank to extend its reach to underserved communities, supporting micro, small, and medium enterprises (MSMEs) led by women. This approach directly contributes to:

• SDG 5: Gender Equality
• SDG 8: Decent Work and Economic Growth
• SDG 10: Reduced Inequalities

MBK’s Microfinance Model

MBK operates as a pioneering microfinance institution supervised by the Financial Services Authority (OJK). Inspired by the Grameen Bank methodology, MBK focuses on providing financial access to the bottom 25 percent of households, primarily self-employed women, through small-scale loans ranging from Rp 3 million to Rp 6 million for productive purposes only.

• No collateral or formal guarantees are required, leveraging peer accountability within self-selected groups of five women.
• Groups form part of larger village center communities comprising 20-25 women.
• The program is delivered by a workforce that is 99% women, reinforcing women’s empowerment at all operational levels.

Impact and Growth

Since its inception, MBK has grown from a small team of 5-10 employees to a workforce of 8,600 staff, with 99% women, serving 1.7 million underserved women across Indonesia. This growth supports SDG 5 (Gender Equality) and SDG 1 (No Poverty) by providing financial literacy and access to capital for low-income women.

Community and Capacity Building Initiatives

Standard Chartered Indonesia complements its financial services with targeted community programs that align with multiple SDGs:

• Women in Entrepreneurship: Nationwide training attended by 3,000 women, with 50 selected for an intensive bootcamp to scale their businesses (SDG 5, SDG 8).
• Goal Program: Impacted over 5,000 young girls in underserved communities by equipping them with leadership skills, financial literacy, and confidence (SDG 4: Quality Education; SDG 5).

Global and Regional Collaboration

The partnership between Standard Chartered and MBK reflects a global commitment to inclusive and sustainable development, consistent with the bank’s Futuremakers initiative. Additionally, the Asian Development Bank (ADB) plays a key role through its Microfinance Program (MFP), collaborating with microfinance institutions and banks to meet the financial needs of underserved communities, supporting SDG 1, SDG 5, and SDG 10.

1. Sustainable Development Goals (SDGs) Addressed

1. SDG 1: No Poverty – The article discusses providing financial access to low-income families and underserved women, aiming to reduce poverty.
2. SDG 5: Gender Equality – Empowerment of women through microfinance, women-led businesses, and women workforce participation is a central theme.
3. SDG 8: Decent Work and Economic Growth – Supporting MSMEs and female entrepreneurs to promote inclusive economic growth.
4. SDG 10: Reduced Inequalities – Targeting the bottom 25 percent of households and underserved communities to reduce inequalities.
5. SDG 17: Partnerships for the Goals – Collaboration between Standard Chartered, MBK, and ADB highlights multi-stakeholder partnerships.

2. Specific Targets Under the Identified SDGs

1. SDG 1 – Target 1.4: Ensure access to financial services, including microfinance, for the poor and vulnerable.
2. SDG 5 – Target 5.a: Undertake reforms to give women equal rights to economic resources, including access to financial services.
3. SDG 8 – Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, and MSMEs.
4. SDG 10 – Target 10.2: Empower and promote the social, economic, and political inclusion of all, irrespective of income level.
5. SDG 17 – Target 17.17: Encourage and promote effective public, public-private, and civil society partnerships.

3. Indicators Mentioned or Implied to Measure Progress

• Number of women supported: Approximately 128,000 women supported through the loan facility; 1.7 million underserved women served by MBK overall.
• Loan amounts disbursed: Small-scale loans ranging from Rp 3 million to 6 million targeted at self-employed women.
• Workforce composition: 99 percent women workforce at MBK.
• Training and capacity building: 3,000 women trained nationwide, with 50 selected for intensive bootcamp under Women in Entrepreneurship program.
• Youth empowerment: Over 5,000 young girls impacted by the Goal program focusing on leadership and financial literacy.
• Growth of MSMEs: Implied through support for women-led businesses and micro-entrepreneurs.

4. Table of SDGs, Targets, and Indicators

Source: thejakartapost.com