New Indonesia Sovereign Wealth Fund to Invest $20 Billion in Projects, President Says

MACROECONOMICS - JAKARTA. Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence, President Prabowo Subianto said on Monday, as he launched the country's new sovereign wealth fund.

At a lavish ceremony, Prabowo formally launched the Daya Anagata Nusantara Indonesia fund, or Danantara Indonesia, which is expected to manage more than $900 billion worth of assets to help drive development in Southeast Asia's largest economy and fulfil his promise of boosting growth to 8%, from about 5% now.