Indonesia’s sovereign wealth fund, the Indonesia Investment Authority (INA) is collaborating with the Export-Import Bank of China (CEXIM) to invest in infrastructure and energy-related projects.
According to INA in a statement on September 12, the sovereign wealth fund has signed a cooperation framework agreement with CEXIM that aims to “intensify economic collaboration and investment cooperation between the two parties in infrastructure, energy resources with an emphasis on renewables, and information and communications in Indonesia”.
“The purpose of this agreement is multifaceted – it signifies both parties' vision to foster a more integrated collaboration through a multitude of avenues. Both entities are also keenly exploring opportunities for financing the strategic projects within Indonesian territory,” INA says in the statement.
The scope of cooperation under this agreement also involves information sharing between INA and CEXIM on aggregated economic trends, financial insights, and market overviews from their respective countries, all subject to compliance with the prevailing regulations.
The investment scope under this agreement includes various asset classes, such as common equity, preferred equity, and convertible debt instruments.
INA Chief Executive Officer Ridha Wirakusumah says the agreement with CEXIM “embodies our mutual commitment to sustainable growth, mutual learning and shared prosperity”.
“We are not just forming an economic partnership, we are also deepening the bond between the two countries,” Ridha says in the statement.