Indonesia says US DFC will invest US$2b in new sovereign wealth fund

[JAKARTA] The US International Development Finance Corporation (DFC) has signed a letter of intent to invest US$2 billion in Indonesia's new sovereign wealth fund, the South-east Asian country's government said in a statement on Monday.

The signing by DFC chief executive Adam Boehler took place in Washington last week, during a visit by Indonesian delegates, according to a statement by the Coordinating Ministry of Maritime Affairs and Investment.

The DFC would also engage with its partners in Japan, United Arab Emirates and Singapore to persuade them to invest in the soon-to-be-launched fund, officially named Indonesia Investment Authority, the ministry said.

The DFC was not immediately available for comment.

REUTERS

A NEWSLETTER FOR YOU

Friday, 8.30 am

Asean Business

Business insights centering on South-east Asia's fast-growing economies.

Sign Up