The UAE pours billions into Indonesia’s sovereign wealth fund

The UAE pours billions into Indonesia’s sovereign wealth fund

The United Arab Emirates will invest $10bn in Indonesia's new sovereign wealth fund to be spent on projects inside Southeast Asia's biggest economy, the UAE state news agency WAM reported recently.

The Indonesia Investment Authority (INA) launched in February.

The INA had reportedly also received multi-billion-dollar commitments prior to its launch, from global companies and agencies, such as the United States International Development Finance Corporation and the Japan Bank for International Cooperation, and some foreign pension funds.