PT Permodalan Nasional Madani
Indonesia – Expanding economic inclusion for women entrepreneurs
LCY funding to expand financial inclusion through leading microfinance institution
The Client
- PT Permodalan Nasional Madani (PNM) was established to develop cooperatives and small and medium enterprises in 1999
- Second largest pure play microfinance institution globally, supports ~14 million underserved micro and small businesses, focusing on women
- Subsidiary of PT Bank Rakyat Indonesia (BRI) Group, the second largest bank in Indonesia
- $2+ billion loans outstanding, 100% of which is microfinance
The Transaction
- Use of proceeds: expand microfinance loan portfolio, focusing on women entrepreneurs for productive business purposes MSMEs
The Impact
Economic inclusion:
- Citi’s financing supports 217,503 households with access to finance
- Average loan size: US$ 168
Diversity & Equity:
- 99% of borrowers are women
- Average loan size: US$ 193