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Jakarta Post

US IDFC to invest $2b in Indonesia’s sovereign wealth fund

  • Dzulfiqar Fathur Rahman

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, November 24, 2020   /  08:28 am
The Jakarta Post Image
United States International Development Finance Corporation (IDFC) chief executive officer Adam Boehler (left) witnessed by Coordinating Maritime Affairs and Investment Minister Luhut Binsar Panjaitan signed a letter of interest to invest US$2 billion in Indonesia’s sovereign wealth fund in the US on Nov. 19, 2020.(Courtesy of Coordinating Maritime Affairs and Investment Ministry/-)

The United States International Development Finance Corporation (IDFC) signed on Nov. 19 a letter of interest to invest US$2 billion in Indonesia’s sovereign wealth fund known as the Indonesia Investment Authority. IDFC chief executive officer Adam Boehler signed the letter witnessed by Coordinating Maritime Affairs and Investment Minister Luhut Binsar Panjaitan during the latter's visit to the US in a bid to strengthen economic ties between the two countries, according to the ministry’s statement. “As a part of its economic reform, the Indonesian government continues to develop options for financing and private investment in the national strategic projects and other priorities,” the statement reads. "This partnership will strengthen economic relations between the United States and Indonesia." The government expects the IDFC’s investme...