Logiq, Inc. announced that it has received approval of an annual lending rate from the Indonesian Government to provide micro-lending services to the more than 50 million members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK). The lending rate approval follows Logiq’s earlier announced launch of a program to provide mobile fintech services in an exclusive strategic alliance with Koperasi Mona Santoso Berjaya. The program will offer microloans to BPJSTK members for personal or business use using the approved lending rate. The rate approval allows Logiq to begin the initial rollout of its new mobile fintech offering to the 5 million contract and delivery drivers of Garda Digital Indonesia. These individuals will be able to borrow up to 20% of their annual salary through the new program. Under their exclusive alliance, Logiq and KMSB are developing a jointly owned and operated mobile fintech platform designed to deliver these mobile financial services throughout Indonesia. Logiq, through its Indonesian operations, is providing the platform design and technology, management, ongoing hosting and technical support. KMSB is providing the professional and financial institutional relationships that will drive the micro-lending program. The partners are also working to launch a new marketing and advertising campaign designed to encourage adoption and regular use of the mobile fintech offerings. Through the new fintech platform, KMSB will provide micro-lending services to government, state-owned enterprises and member organizations registered with BPJSTK. As part of managing the pensions and health benefits for contract and delivery driver members, BPJSTK serves as the social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with the combined total of 50 million individual members. The mobile fintech platform is planned to be eventually introduced to all BPJSTK members, as well as to affiliated organizations, such as Mentalku, which supports the motor vehicle license administration, and Sehatku, a medical clinic organization network. Members will also be able to access Logiq’s PayLogiq™ e-Wallet and GoLogiq™ hyper-local food delivery mobile platforms. Logiq announced that it has partnered with Mentalku to offer a mobile payment option for Mentalku’s testing services. Logiq and the principals of KMSB who own Mentalku are planning to offer a new SuperApp that incorporates microloans for BPJSTK members, driver license tests thru the app, fees paid thru the Logiq e-Wallet, and ancillary services, such as telemedicine and consultations. Logiq and KMSB plan to complete the official launch of the new mobile fintech platform for drivers of Garda Digital Indonesia by the fourth quarter of 2021.