ADB Approves $650 Million to Support Indonesian Financial Market Reforms
JAKARTA, Indonesia — The Asian Development Bank (ADB) approved the first subprogram of the Financial Market Deepening Program on Oct. 1, 2026, providing $650 million in financing to support Indonesia's financial sector reforms.
The initiative focuses on three main areas: improving market efficiency, advancing digital financial services, and mobilizing private capital for sustainable projects. The program aligns with Indonesia's National Medium-Term Development Plan 2025–2029 and the Golden Indonesia Vision 2045.
According to the ADB, the program includes measures to enhance market liquidity, transparency, and investor participation through securities lending, liquidity providers, and bond market development. In 2025, Indonesia's stock market represented 66.4% of its gross domestic product, highlighting an ongoing push to reduce reliance on bank-based financing and expand capital markets.
The program also aims to bolster digital financial services by strengthening the regulatory framework for digital assets, raising cybersecurity standards, and implementing consumer protection measures.
Additionally, the initiative targets sustainable and transition finance by expanding the sustainable finance taxonomy, supporting green lending, reinforcing regulatory and market infrastructure, and reducing barriers to issuing sustainable finance instruments.
ADB Country Director for Indonesia Bobur Alimov stated that improving financing access helps businesses invest and create jobs, while safe digital financial services provide people with opportunities to save.
The newly approved subprogram builds upon previous ADB initiatives in the country, including the Financial Market Development and Inclusion Program and the Promoting Innovative Financial Inclusion Program.
Asian Development Bank
Official multilateral development bank material; funding and policy framing reflects ADB.
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