business

BCA Signs Commitment To Women Entrepreneurs Finance Code, Empowering Women Business Owners

PT Bank Central Asia Tbk (BCA) has signed the Women Entrepreneurs (WE) Finance Code Indonesia, demonstrating its commitment to empowering women entrepreneurs in the country. BCA's involvement in developing the WE Finance Code is part of its efforts to provide inclusive financing access.

The signing ceremony took place at the Grand Hyatt Hotel in Jakarta on Tuesday (December 17), represented by BCA Director John Kosasih along with representatives from financial institutions, associations, and women entrepreneurs. The event was attended by officials from the Ministry of Finance, Financial Services Authority, Bank Indonesia, Asian Development Bank (ADB), and Islamic Development Bank (IsDB).

The WE Finance Code aims to foster collaboration among financial service providers, regulators, the government, and various stakeholders to enhance financing access for women entrepreneurs and micro, small, and medium enterprises (MSMEs). This commitment was first launched at the IMF Annual Meeting in 2023 in Marrakech, Morocco. Indonesia is the second country to adopt the WE Finance Code out of 26 pilot countries.

John Kosasih, Director of BCA, stated, "As a national financial institution, BCA is proud to participate in signing this commitment and developing the Women Entrepreneurs Finance Code in Indonesia. We recognize that women entrepreneurs play a crucial role in driving inclusive economic growth. BCA is also committed to increasing financing for women entrepreneurs and MSMEs through various special programs."

The spirit of the WE Finance Code aligns with BCA's commitment to providing easier access for women to banking products and financing. As of September 2024, the total outstanding credit given to women entrepreneurs reached Rp17 trillion, showing an 18% year-on-year growth. The number of female debtors also increased to 48,000, which is an 11.8% rise year-on-year, making up 37% of all individual debtors at BCA.

In addition, for the past three years, BCA has consistently run the Kartini Multi-Purpose Credit (KMU) program, aimed specifically at women entrepreneurs or businesses with a majority of female employees. This program celebrates Kartini Day and offers special interest rates starting at 3.21% per annum, helping women entrepreneurs access working capital and meet other business needs.

BCA also provides various programs for entrepreneurs and MSMEs, including initiatives for women entrepreneurs. These include Bangga Lokal, BCA MSME Fest, training in natural dye weaving, and expanding market access for nearly 100 female weavers, as well as the BCA Go Export program and free halal certification workshops.

"By participating in the WE Finance Code, BCA aims to contribute to creating an inclusive financial ecosystem for women entrepreneurs in Indonesia. We believe this initiative will not only boost MSME growth but also strengthen the national economy as a whole. BCA will continue to support programs that inspire and empower women," concluded John Kosasih.

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Tag: Bank Central Asia John Kosasih