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In Indonesia, around 19 million youth do not attend higher education. This is because the banks and financial institution offer limited student loan products. For those who are in higher education, c. 73% of parents do borrow from neighbor, family, and even loan sharks.
For the healthcare sector, this has resulted in Indonesia to having a high shortage of skilled healthcare personnel per 10,000 people according to WHO, way below its neighboring countries. This fund will allow more healthcare to graduate, especially in the context of tackling global pandemics, such as COVID-19.
Through DANADidik, we are launching the first revolving student loan fund for Indonesian nursing students, together with our sister organisation, Yayasan Dana Abadi Pelajar. The fund will be used to provide concessionary loans for healthcare students.
The goal of this project is to test innovative healthcare education financing approaches and build the case for scale and follow-on investments by a global network of impact investors.