The Ultra-Micro (UMi) financing program represents a significant public sector innovation in Indonesia’s approach to poverty alleviation and financial inclusion. Initially conceived as a social assistance initiative, UMi has evolved into a strategic government intervention designed to transform impoverished individuals into entrepreneurs. This shift reflects a policy innovation that redefines the role of the state from passive welfare provider to active enabler of economic participation. Despite ambitious goals, its implementation and impact face scrutiny. This study employed an exploratory qualitative approach through individual interviews with elite participants and debtors of UMi. The data used triangulation from documentation, observation, and in-depth interviews with key informants, selected through purposive sampling. Findings indicate that the program’s implementation—anchored in government regulations and executed through non-bank financial institutions (NBFIs)—demonstrates innovative service delivery. In this study, UMi exemplifies how public sector innovation—through policy reform, institutional collaboration, and community engagement—can drive inclusive economic growth. The study provides valuable insights for policymakers, practitioners, and scholars seeking to advance financial inclusion and sustainable economic development.

Savings and credit cooperatives support financial inclusion, community-based economic participation, and the social economy in emerging countries, yet their protection mechanisms are often discussed through models designed for commercial banks. This article examines whether bank-based deposit insurance is institutionally suitable for Indonesian savings and credit cooperatives and how alternative protection arrangements can be designed without weakening cooperative governance. Using conceptual institutional analysis and comparative policy analysis, the article combines institutional economics, financial safety net theory, cooperative governance literature, Indonesian regulatory developments, and comparative lessons from European cooperative banking systems, particularly Germany’s Institutional Protection Scheme. The analysis shows that direct transplantation of bank-centric deposit insurance may create institutional mismatch because cooperative members may simultaneously act as owners, savers, borrowers, users, and governance participants. The article develops the Contextualized Cooperative Deposit Protection Design (CC-DPD) framework, integrating external protection with federated risk pooling, tiered eligibility, peer monitoring, early intervention, and governance-aligned incentives. It contributes to debates on institutional resilience, social economy sustainability, and inclusive financial governance by showing that financial safety nets are not institutionally neutral; their effectiveness depends on governance congruence between regulatory design and the organizational logic of the institutions they protect. In this article, cooperative deposit protection refers specifically to protection of member-savings claims rather than cooperative equity or ordinary commercial bank deposits.

The most strategic issue today in the context of development at the global level, especially in Indonesia, is realizing sustainable growth. This issue is largely caused by the problems of urbanization and industrialization, thus worsening environmental degradation and deepening socio-economic disparities. The Green and Inclusive Business (GIB) Initiative is a movement that aims to encourage ecologically sustainable and socially just corporate strategies to address environmental and social issues. This framework is in line with the global Sustainable Development Goals (SDGs), which prioritize economic growth, poverty alleviation, and ecological management. The main objective of this study is to assess the bibliometric analysis based on literatures on Green and Inclusive Business development in Indonesia. This is done by observing how companies contribute to sustainability while advancing social inclusion, ensuring the active participation of marginalized groups (including women), the poor, and rural populations. The secondary data were analysed using bibliometrics analysis using certain keywords such as Green OR inclusive AND business OR SME OR MSME in SCOPUS range from 2014 to 2024. The analysis is made based on papers to clarify the prevailing trends related to GIB in Asia, especially MSMEs that have implemented GIB practices in Indonesia. The findings of the research indicate that Green and Inclusive Business models are progressively gaining traction across Asia. The primary catalysts for GIB advancement include increased environmental awareness, consumer demand for sustainable products, and governmental incentives that advocate for clean energy and corporate social responsibility (CSR). Despite facing numerous obstacles, Indonesia has achieved significant strides in the domain of green business development. Nevertheless, issue of inclusivity is more pronounced in smaller enterprises in rural areas, such as social enterprises and cooperatives. These initiatives frequently concentrate on local communities, empowering women and low-income populations through skill development, microfinance opportunities, and involvement in eco-friendly sectors like organic farming and waste management. Despite progress in fostering sustainable business practices, there is the need to enhance the inclusivity dimension under GIB paradigm. Collaborative endeavours among governmental entities, the private sector, and international organizations are vital to creating conducive environments that encompass favourable regulatory frameworks, financial mechanisms, and capacity-building programs that encourage businesses to adopt GIB models.