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View all search resultsAdopting at least four of the Santiago Principles, described as "the globally accepted standards for governance, investment and risk management practices for sovereign wealth funds" by the SWF international forum, will help ensure the independence, transparency and attractiveness of the nascent Danantara fund.
The President’s top adviser and brother has said several foreign investors have expressed interest in collaborating on national strategic projects in Indonesia's hydropower, geothermal and solar sectors alongside Danantara as coinvestor.
The two former presidents, together with Indonesian Democratic Party of Struggle (PDI-P) chairperson and Indonesia's fifth president Megawati Soekarnoputri, have been offered roles as members of the sovereign wealth fund's advisory body by Prabowo.
Many government offices in the capital Jakarta are now turning their lights and air conditioners off immediately when the work day ends at 4 pm, leaving some employees trying to finish projects after hours at dimly lit desks, while others are being encouraged to work from home to save on energy costs.
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