Citi forms microfinance partnership in Indonesia

Citi, Opic and Bank Danamon announce the closing of a $20 million term loan fund for a microfinance programme.

Citi Indonesia has partnered with the Overseas Private Investment Corporation Opic to support the growth of Bank Danamon’s microfinance programme, Danamon Simpan Pinajm DSP, with a $20 million term loan. According to Citi, the loan is the first from itself and Opic for the microfinance sector in Indonesia and is part of a $250 million joint global initiative to support microfinance lending in emerging markets.

“Microfinance has tremendous potential not only to help...

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