YCAB Foundation and PT Bank HSBC Indonesia commenced a collaboration that would contribute to the post-pandemic economic recovery of Indonesia via the Resiliency for Women & Farmers program. This program strives to create business opportunities for female and farmer-owned MSMEs by presenting a comprehensive, long-term solution to the complex problems they face as a result of COVID-19.
The COVID-19 crisis has negative implications not only for health but for social and economic conditions as well, of which are detrimental to MSME owners and farmers. That is, despite the primary role they play in job creation and ensuring food security for the Indonesian population. In 2018, MSMEs contributed to 60% of Indonesia’s GDP and employed 121 million Indonesians. In addition, the agricultural sector in it’s height has contributed to 13.63% of Indonesia’s GDP growth rate.
Veronica Colondam, the CEO and founder of YCAB Foundation, says :
“The health crisis in face of the COVID-19 pandemic has snowballed to produce economic and social consequences. To overcome this recession and prevent social distress, we’ve taken the initiative to support the backbone of this nation’s economy, women-owned MSMEs and farmers. Increasing productive capacity and improving the accessibility of capital are the two fundamentals we’ll be working on to help women micro-entrepreneurs and farmers. This program aims to build business resiliency in our target communities, which then has positive implications on their social welfare. “
Resiliency for Women & Farmers was created to ensure sustainability for our fellow MSMEs and farmers, such that they can continue to operate and improve their standards of living. Hence, the YCAB Foundation will provide training, mentorship and seed capital to improve entrepreneurship skills and knowledge about start-up in an effort to boost the MSME sector. In addition, YCAB will also invest in farmers to guarantee the supply of foodstuffs from key commodities.
Nuni Sutyoko, the Head of Corporate Sustainability HSBC Indonesia, says :
“The Resiliency for Women & Farmers program is one among many of HSBC Indonesia’s efforts to help restore the wheels of our economy. This one, in specific, targets MSME entrepreneurs as the backbone of the Indonesian economy. After a series of contributions related to the handling of COVID-19, we invite you to look to the future where we’ll reclaim the potential and societal opportunities for sustainable empowerment. “
Through the Resilience for Women & Farmers program commencing July this year, as many as 25 groups of women micro entrepreneurs in Jabodetabek, West Java and Central Java will receive sewing lessons and training to become resellers. They will receive training for about a year.
As many as 120 farmers, comprising of 72 potato and 48 tomato agriculturists will feel the financial benefit of this program. It is hoped that Resilience for Women & Farmers will restore MSME and agricultural sector conditions, enabling them to recover and once again, contribute to the Indonesian economy.