Team Grace Retnowati


Senior Manager - Country Development- Indonesia
Jakarta, Indonesia

Grace Retnowati is a Principal Consultant and financial consultant with more than 15 years’ experience in microfinance, rural finance, Digital Financial Services (DFS) and advisory services. Grace has worked in various projects with banks, government institutions, MFIs and local financial institutions in Indonesia. She is currently associated with MicroSave as Country Head-Indonesia where she is managing a wide range of advisory projects funded by Bill and Melinda Gates Foundation, IFC/World Bank, DFAT, Nethope/USAID, Rabobank Foundation, Opportunity International, VISA, etc aimed at building the institutional capacities of Financial Institutions (FIs) and telecommunication companies to increase their outreach to under-served population. She is also leading a multi-disciplinary team in the implementation of action research programs, planning and development of training programs, provide thought leadership and policy advocacy to regulators and market players through research and other publications. Her area of expertise includes G2P programs, delivery channel design, costing and pricing, product development, market/value chain assessment, and risk management services. 
Some examples of her recent work include:
Providing technical and policy support for Digitation of G2P for Ministry of Social Affair (2017-ongoing)
Strengthening Regulatory Environment in Indonesia (SREI) in Indonesia, funded by Bill and Melinda Gate Foundation. (2016-ongoing)
Agri-Finance Supply Side Study in Eastern Indonesia for SAFIRA– Strengthening Agriculture Finance in Rural Areas in Indonesia, funded by SAFIRA - a DFAT supported program. (2016)
MFI Over-Indebtedness Study for Indonesian Microfinance Institutions, supported by IFC and IFIIF - an Indonesia Microfinance Association. (2016) 
Development of Risk Management Framework for a medium and large commercial bank supported by eMITRA/NetHope. (2015)
Market Assessment on Feasibility of E-Vouchers for Food Aid Programme of WFP in Indonesia, supported by e-Mitra/Nethope. (2015)
Survey of Potential Payment Options for G2P in Papua and West Papua, Indonesia for TNP2K (National Team for the Acceleration of Poverty Reduction of Government of Indonesia), supported by DFAT (2014)
Prior to joining MicroSave, Grace worked with IFC Indonesia for about 8 years wherein she handled projects across various sectors and sub-sectors. Grace has delivered several pieces of training on financial management, financial analysis and operational risk management to banks and MFIs. She holds a Master’s Degree in Banking and Finance from the University of Indonesia. She is fluent in Bahasa Indonesia and English.