Indonesia is a global leader in sustainable finance, yet women—who lead the majority of micro, small, and medium enterprises—continue to receive a disproportionately small share of formal financing. This report examines how Orange Bonds and Orange Sukuk, the world’s first gender-lens thematic bonds, address this gap by intentionally directing capital toward women while maintaining the rigor, transparency, and accountability expected by global investors. Developed by IIX in partnership with the Ford Foundation, the report outlines how these instruments embed gender considerations across capital allocation, leadership, and impact measurement, strengthening ESG outcomes without sacrificing financial discipline.
Focusing on Indonesia’s first Orange Bond and the world’s first Orange Sukuk, the report highlights growing market readiness, supportive regulation, and investor appetite for scalable gender-lens finance. It demonstrates why Indonesia is uniquely positioned to lead this next evolution in sustainable finance and shows how Orange Bonds offer issuers and investors a credible pathway to inclusive growth, economic resilience, and measurable progress toward global development and climate goals.