On 10 May 2023, the Indonesia Impact Alliance (IIA) was launched. The Ford Foundation, government associations and business communities in Jakarta attended the launch with the aim of attracting increased private capital into ventures that tackle social and environmental challenges while generating market returns.
Paloma Sjahrir Foundation participates as a member of the IIA with our chairperson, Ratna Kartadjoemena, as an advisor to the alliance. Chairing the alliance is Romy Cahyadi, CEO of Instellar, an Indonesian company specializing in providing support to social enterprises through incubation, advisory services, and investments.
In addition to global and regional economic development institutions, the alliance also comprises non-governmental organizations offering technical assistance. The participation of Temasek, the sovereign wealth fund of Singapore, is also notable. Romy Cahyadi emphasizes the importance of the involvement of all these stakeholders working together towards a common goal.
IIA is also affiliated with the Global Steering Group on Impact Investments, an organization that has national associations in several countries, including the U.S. Impact Investing Alliance. By being a member of this group, IIA gains access to valuable resources, proven models, and policy blueprints that have been successful in other regions.
The primary objective of IIA is to enhance the amount of direct investment flowing into promising young companies with significant potential impact. This will be achieved by expanding the involvement of both local and international investors, as well as the Indonesian diaspora communities. Additionally, IIA will serve as a facilitator, providing information, acting as a hub, and collaborating with various stakeholders to foster the growth of impact investing policies in Indonesia. The Ministry of National Development Planning for the Republic of Indonesia and the United Nations Development Programme (UNDP) Indonesia are also supporting the IIA in its endeavors.
