Indonesia’s sovereign wealth fund and the US International Development Finance Corp (DFC) have signed a pact to work together to identify investment opportunities in the Southeast Asian country.
According to the Indonesia Investment Authority (INA), the agreement with DFC, the US government’s development finance institution, points to “deepening economic relationship between the two countries”.
“It also underscores INA’s unwavering dedication to fostering a collaborative environment with global investors and promoting sustainable development in Indonesia,” the wealth fund says in a statement on March 15.
INA Chief Executive Officer Ridha Wirakusumah describes the pact as “significant” and testimony to the fund’s goal to be a strategic partner for global investors seeking to tap into the “immense potential” of Southeast Asia’s largest economy, valued at US$1.19 trillion in 2021 by the World Bank.
Working with DFC “strengthens INA's pledge to become a trusted partner for Indonesia's future prosperity, and contribute to a more equitable, sustainable, and prosperous future for the country”, he says.
DFC Chief Executive Officer Scott Nathan expects their collaboration to be the first of many to come.
“From hard infrastructure to energy security to improved healthcare, DFC brings with its investments a commitment to high standards and community involvement,” he says.
INA was launched in 2021 with the goal to bolster the Indonesian economy by investing in key sectors and attracting foreign funds as co-investors.