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​Communication Department​

5/19/2023 12:00 AM
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Bank Indonesia Launches Guidelines on Inclusive Economic and Financial Development Based on Subsistence Groups

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Bank Indonesia launched Guidelines on Inclusive Economic and Financial Development Based on Subsistence Groups today (19/05) in Jakarta.  The guidelines are expected to serve the development of subsistence groups for all parties, including regional governments, government ministries/agencies and Bank Indonesia, as well as various other parties involved in training subsistence groups or low-income earners with limited access to formal financial institutions.  Furthermore, the guidelines are expected to help advance subsistence groups into viable business players by developing various aspects, namely financial inclusion, business development and the institutional arrangements. 

Bank Indonesia Deputy Governor, Juda Agung, took the opportunity to convey the importance of developing subsistence groups, in this case to boost economic growth through efforts to strengthen household consumption, which encompasses subsistence groups. Deputy Governor Juda emphasised various efforts taken by Bank Indonesia to expand inclusiveness through capacity building, market access and access to finance, thus allowing subsistence groups to manage their finances and produce quality products with attractive branding. 

When developing subsistence groups, Bank Indonesia pursues a policy approach that integrates financial inclusion with community economic empowerment through a National Economic and Financial Inclusion Strategy (SNEKI) framework to achieve the National Financial Inclusion Strategy (SKNI). In 2021, Bank Indonesia developed business models for inclusive economic and financial development based on subsistence groups.  Programs targeting subsistence groups, including social security beneficiaries with start-up businesses, are subsequently oriented towards forming prospective micro-enterprises, with participants encouraged to use formal financial products and services to support productive economic activity and achieve economic independence or level up their business. 

Head of the MSME Development and Consumer Protection Department, Yunita Resmi Sari, confirmed that this program has been implemented in the form of pilot projects over a two-year period (2021-2022) in eight regions where a BI Representative Office is located, resulting in various improvements, such as account ownership, business capacity building and institutional arrangements.  In 2022, the business models developed were replicated across all 46 BI Domestic Representative Offices, with 93 subsistence groups established by the end of 2022. 

The launch ceremony featured a talk show, entitled “Subsistence Group Empowerment Synergy for Sustainable Economic and Financial Inclusion" with panellists including the Head of MSME Development and Financial Development Group, Bank Indonesia, Elsya MS Chani, Head of Indonesia Dreamdelion Foundation as implementing partner of subsistence group development pilot projects (2021-2022), Aryo Dwi Harprayudi, Deputy Assistant for Gender Mainstreaming in Economic Sectors, Ministry of Women Empowerment and Child Protection, Eko Novi Ariyanti, and Female Entrepreneurs (PUP) represented by the local leader of Jadi Makmur, Tati Suharni, under the mentorship of the Bank Indonesia Representative Office in Riau Islands as the best subsistence group pilot project in 2022. The talk show discussed the importance of synergy in terms of inclusive economic and financial development based on subsistence groups, various lessons learned, implementation challenges facing programs aiming to develop subsistence groups in Indonesia as well as development efforts moving forward.


Jakarta, 19th May 2023

Communication Department

Erwin Haryono

Executive Director


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Halaman ini terakhir diperbarui 5/25/2023 1:14 PM
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