World Economic Forum 2024: BRI Highlights Ultra-Micro Holding's Role in Driving Inclusive Growth

January 19, 2024 12:27 PM AEDT | By Cision

World Economic Forum 2024: BRI Highlights Ultra-Micro Holding's Role in Driving Inclusive Growth — Image source: Kalkine Media

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DAVOS, Switzerland, Jan. 19, 2024 /PRNewswire/ -- Director of BRI (Bank Rakyat Indonesia) (IDX: BBRI), Sunarso, participated in the World Economic Forum (WEF) 2024, held in Davos, from January 15 to 19, 2024. During this event, Sunarso addressed critical topics pertinent to BRI, focusing on fostering inclusive economic growth and employment opportunities.

Sunarso, President Director Bank BRI at World Economic Forum (WEF) 2024, Davos.

While Indonesia is poised to become a high-income country by 2041, global economic challenges have hindered its progress, resulting in stagnant economic growth, limited national credit expansion, and persistent extreme poverty rates. To tackle these challenges, Sunarso emphasized the need to establish an inclusive economic growth engine. BRI, a state-owned enterprise, recognizes the value of profitability, which can be reinvested to drive social impact and stimulate economic growth.

BRI's commitment to inclusive growth is evident through the Ultra Micro Holding initiative, which includes BRI, Pengadaian, and PNM. By December 2023, this initiative integrated 37 million borrowers, reducing the number without financial access from 30 million in 2018 to around 14 million in 2023. BRI also empowers women entrepreneurs in the ultra-micro segment through PNM Mekaar. As part of this initiative, PNM disbursed IDR 41.57 trillion to 15 million women entrepreneurs, solidifying its position as the world's largest lending group, promoting gender equality and supporting the Sustainable Development Goals (SDGs). BRI further promotes inclusivity through an "economy sharing" concept with over 740,000 AgenBRILink agents processing transactions worth IDR 1.427 trillion by December 2023.

Embracing digital transformation, BRI harnessed the power of Artificial Intelligence (AI) through BRIBRAIN, a digital hub that consolidates AI and analytics capabilities. This initiative enhances customer engagement, fortifies anti-fraud and risk analytics, streamlines credit underwriting, automates smart services, and bolsters BRImo's performance.

BRI's sustainability commitment is also highlighted by loans to the Sustainable Business Activity Category (KKUB) sector, comprising 66.1% of its total loan portfolio. Through the BRI Menanam program, the bank planted 1.9 million seedlings across Indonesia by end of 2023, absorbing an estimated 875,013 kgCO2e.

These initiatives align seamlessly with the international priorities discussed at the World Economic Forum. "BRI remains committed to empowering the grassroots economy through small and medium-sized enterprises, bolstered by robust technological capabilities and grounded in sustainability principles, thus contributing value beyond profit," concluded Sunarso.

More information about BRI at www.bri.co.id

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