The Government of Indonesia has allocated an additional USD4.2 billion into Indonesia Investment Authority (INA), the national sovereign wealth fund, to fund key infrastructure projects in the country. The recent injection includes a USD1.05 billion state capital contribution from the 2021 State Budget as well as a USD3.16 billion contribution in equity from Bank Mandiri and Bank Rakyat Indonesia (BRI). The government expects INA to manage more than USD100 billion in assets.
Governments of Canada, Japan, the Netherlands, the United Arab Emirates (UAE), and the United States (US) have all pledged a total of USD19.8 billion in investments to INA. This includes a USD2 billion investment from the US International Development Finance Corporation (DFC). The Government of UAE has also committed to an investment of USD10 billion, while the Japan Bank for International Cooperation (JBIC) will invest USD4 billion.
INA was founded in February 2021 with an initial capital of USD5.4 billion. It is expected to assist Indonesian domestic and international investors in raising capital to fund development initiatives, particularly domestic infrastructure projects.