SINGAPORE, September 30, 2021 / PRNewswire / – Bank Central Asia (BCA), a leading Indonesian commercial bank, and Impact Credit Solutions (ICS) have partnered to provide affordable financing to the Indonesian health sector during the COVID-19 pandemic. BCA is committed to participant in the $ 40 million The Indonesian Resilience Fund (IRF) managed by ICS to fund hospitals, clinics, pharmacies and other participants in the healthcare supply chain. The IRF is supported by the American International Development Finance Corporation (DFC), the United States Agency for International Development (USAID), and the Australian Department of Foreign Affairs and Trade (DFAT).
From August 2021, the IRF had reached 108 health care providers, including 67 hospitals, in 31 provinces in Indonesia. IRF funded the provision of medical equipment, supplies and services, ranging from oxygen concentrators to personal protective equipment.
“Indonesia needs a strong health sector to minimize the health and economic impacts of the pandemic, âsaid John kosasih, CEO of BCA. “ICS’s technology platform enables BCA to fund healthcare loans to SMEs knowing that our risk will be managed effectively while having social impact.”
Recently, Indonesia has seen a spate of COVID-19 cases, with more than 40,000 infections reported daily at their peak. The healthcare sector has faced great pressure with hospital occupancy rates exceeding 80% in many provinces at times, making funding for vaccines, medical oxygen and patient care more urgent. than ever.
âThe current COVID-19 crisis illustrates the dangers that unexpected shocks pose to health systems, economies, as well as patients and their families., “ noted Ryan washburn, USAID Indonesia Mission Director. “BCA’s contribution will strengthen the Indonesian Resilience Fund (IRF), allowing health services and supply chains to remain operational and more Indonesians to get the health care they need to survive this crisis. pandemic, “ Washburn added.
Women have been at the forefront of the response to COVID-19, constituting the majority of frontline health workers and community health workers, yet are disproportionately affected by the crisis. IRF’s gender-focused investment framework, co-developed by ICS, DFC, DFAT and USAID, helps ensure funding reaches cross-cutting beneficiaries such as women-led businesses, healthcare workers and patients.
DFC Vice President of External Affairs and Head of Global Gender Equity Initiatives, Algene Sajery, said, âDFC is pleased to partner with USAID, DFAT and ICS to continue to support this vehicle. an innovative gender-focused investment that will provide essential access to credit. for indonesia health sector that is currently grappling with the COVID-19 crisis. In the long term, IRF will help strengthen indonesia health system and support the economic resilience of women and other small businesses in the country. “
âPartnering with leading banks like BCA allows us to provide the necessary liquidity in the healthcare sector, to ensure that families receive adequate care and medical supplies during this pandemic,â said Dewi Wiranti, manager. from Indonesia to ICS.
SOURCE impact credit solutions