Indonesian sovereign wealth fund Danantara has set up a philanthropic trust seeded with about US$100 million.
The Danantara Indonesia Trust (DIT) will focus on bankrolling causes in health, sanitation and education. Projects will be funded with some dividends paid by state-run firms that are Danantara units.
“DIT has an initial funding of $100 million,”Rosan Roeslani, Danantara’s chief executive officer, said at a press conference on May 26. “Our policy commits us to annually allocate at least 1% of the total dividends that we receive from all state-owned enterprises into DIT.”
He said DTI was set up lastOctober and is now working with a non-profit organisation on a scholarship programme for underprivileged students, and with the health ministry on a vaccination progamme for children.
Budi Gunadi Sadikin, Indonesia’s health minister, said at the press conference that DIT is putting in around 250 billion rupiah ($14.1 million) for the vaccination programme.
