There’s a new trend in Indonesia’s lending sector. Of the IDR 64.75 trillion (US$4.6 billion) worth of loans disbursed across 153 fintech lending platforms in Indonesia as of November 2020, around 18%—around IDR 11 trillion (US$782 million)—went into agricultural projects. That’s an estimated 10-15% increase from a year prior, a spokesperson from the Indonesian fintech lending association, AFPI, told The Ken.

This is a heartening, yet surprising trend. Heartening because the agricultural sector is the second-largest contributor to Indonesia’s economy. Surprising, at least from the outside, because it’s taken so long for lenders to warm up to it.

AUTHOR

Yunindita Prasidya

Based in Bali, Dita writes about Indonesia’s growing digital economy, including how technology is shaping the lives of young Indonesians and impacting traditional industries. She was previously a reporter at The Jakarta Post.

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