Indonesia warms up to microcredit

Nobel laureate Muhammad Yunus meets Jusuf Kalla, vice president-elect of Indonesia, at his residence in Jakarta on Sunday. Photo: Yunus Centre

The newly elected Indonesian government was full of praise for Prof Muhammad Yunus’s microcredit and social business concepts when the Nobel laureate toured the country earlier this week.
The Grameen Bank founder visited Jakarta at the invitation of Synergy, a leading social organisation, to address a youth camp in the country’s capital.
This was the first time a youth camp for music and social mission was organised in the Southeast Asian nation. Synergy pledged to promote and set up social businesses in Indonesia.
Yunus was invited by Vice President-elect Jusuf Kalla at his home to discuss the future policies of the new government on elimination of poverty, Yunus Centre in Dhaka said in a statement yesterday.
They discussed the future of microcredit in Indonesia, introduction of social businesses and the appropriate role of the government in eliminating poverty and reducing income disparity.
The Bangladeshi economist congratulated newly elected President Joko Widodo on behalf of the people of Bangladesh and expressed hope that both countries will work together to eliminate poverty and unemployment and reduce income disparity by 2030.
Kalla appreciated the power of microcredit and social business in achieving the goal of eliminating poverty, unemployment and reducing income disparity.

Yunus also addressed a meeting of social entrepreneurs, business leaders, bankers, NGO leaders, academics and women leaders, and discussed the role of business in building a new society.
Sandiaga Salahudin Uno, one of the richest men in Indonesia and founding president of Saratoga Investama Sedaya, hosted a dinner in honour of Prof Yunus, where he announced plans to create a Social Business Fund for Indonesia jointly with Yunus Centre.
Yunus also delivered a public lecture at the University of Paramedina.