Pintek Gains Support from US Government through Loan Portfolio Guarantee Scheme

In early March 2020, the U.S International Development Finance Corporation (DFC) and the U.S Agency for International Development (USAID) announced their agreement to release a new investment fund in response to the recovery from the pandemic. There are specific focuses in various countries, one of which is related to education. In Indonesia,  Pintek's education financing startup has earned the trust.

DFC and USAID provided a "loan portfolio guarantee" worth up to $16 million to help Pintek optimize its potential. The fund is also used to cover defaults and return investments to customers. It is known, the pandemic has ruined the economy of societies. However, certainly, there is a rigorous analysis and scoring scheme to state defaults that can be covered by these funds.

The fund is expected to increase Pintek's capacity, therefore, it can reach more students at the vocational school and higher education levels throughout Indonesia.