Jakarta, Nov. 25 -- Indonesia's Coordinating Ministry for Community Empowerment has proposed an inclusive microfinancing scheme for creative economy players, built on three core pillars.

Coordinating Minister Abdul Muhaimin Iskandar said in a statement on Tuesday that the first pillar is collateral-free microfinancing, applied prudently through creditworthiness assessments based on healthy business cash flows.

The second pillar introduces financing combined with business mentoring or incubation, while the third offers competitive interest rates and flexible installment options through various payment platforms.

"It is time for us to take bold steps in creating an inclusive microfinancing scheme," Iskandar said.

He noted that innovativ...