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View all search resultsDanantara to receive $10b funding from foreign banks, CEO claims
Danantara CEO Rosan Roeslani noted that the agency had already secured $7 billion in international investment commitments from Qatar, Russia, China and Australia.
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The exterior facade of the building housing sovereign wealth fund, known as Daya Anagata Nusantara or Danantara, in Jakarta on February 24, which was earlier launched by Indonesian President Prabowo Subianto. Indonesian President Prabowo Subianto on February 24 launched a new sovereign wealth fund set to be the biggest in Southeast Asia's largest economy and give the ex-general greater control of the country's coffers. He wants to tap into the fund's assets, planned to be more than $900 billion, to boost Indonesia to a developed economy status, despite expert concern about its governance.
(AFP/Bay Ismoyo)
S
tate asset fund Danantara is set to receive an additional US$10 billion in fresh funding from foreign banks by the end of this month, according to CEO Rosan Roeslani. However, he did not elaborate on the structure or purpose of the incoming funds.
Rosan noted that the newly established agency, launched in February, had already secured $7 billion in international investment commitments from Qatar, Russia, China and Australia.
“The level of trust from global investors has been remarkable,” he said in a statement on Monday. “We’re continuing to explore new partnerships and alternative funding avenues.”
Since its launch, Danantara has taken 844 state-owned enterprises (SOEs) under its wing.
This year alone, the fund is expected to collect around $7 billion in dividends from these SOEs, capital that will be reinvested into strengthening underperforming firms and funding high-potential domestic projects that promise strong returns and job creation.
Rosan added that the agency is expected to accelerate the country’s economic development, with a target of achieving 8 percent growth, as directed by President Prabowo Subianto.
Read also: Danantara takes over capital injection role for SOEs
