Promoting Micro and Small Enterprises through improved Entrepreneurs’ access to Financial services (PROMISE IMPACTS)

PROMISE IMPACTS presents a business model that seeks to close the gap in the supply and demand for socially responsible financial services as well as other services for the backbone of Indonesia’s real economy: the millions of micro and small enterprises that fail to gear up productivity because of missed opportunities linked to inaccessible or unaffordable capital or ignorance about its availability. The business model is based on the principle that financial service providers have a long term commercial interest in tapping more efficiently into this market of the future as well as in sustaining their relationship to clients. Addressing responsible financial inclusion, inducing innovations, will be done on three levels. Firstly, on the supply side by helping financial institution to understand better their clients’ needs through Social Performance Management, to operationalize their mission into specific social or development metrics, assess their performance against those metrics, and adjust their strategies and services accordingly (Outcome 1 of PROMISE IMPACTS). Secondly, on the demand side by raising financial capabilities and helping consumers to protect themselves as well as to access and use financial services wisely in order to take advantage of economic opportunities and enhance their productivity (Outcome 2).And lastly on the policy and regulatory side through promotion, support for implementation and regulation on responsible financial inclusion (Outcome 3).

Project symbol

INS/15/04/SWI

Admin unit

CO-Jakarta

Start date

01/08/2015

End date

31/12/2019

Total allocation

2966053

Total expenditure

Status

Closed

2966053

Development Partners

Switzerland, State Secretariat for Economic Affairs

Country/Countries

Indonesia

Outcomes

Outcome 4: Sustainable enterprises as generators of employment and promoters of innovation and decent work