The Indonesia Investment Authority (INA) is the sovereign wealth fund of Indonesia. The INA was founded by the Indonesian Government in 2021 to strengthen the country's economy by diversifying into new asset classes.[2] INA was launched in February, 2021, with a target of managing $24.5 billion of assets. Unlike sovereign wealth funds of other countries which manage excess oil revenues or foreign exchange reserves, the INA seeks foreign funds as co-investors to finance the country's economic development.[3]
INA had received commitments of up to $10 billion prior to its launch from global companies and agencies such as the U.S. International Development Finance Corporation and the Japan Bank for International Cooperation, as well as a few foreign pension funds.[4] The Indonesian government will support the fund with $5 billion in cash and other assets. The United Arab Emirates has announced a plan to invest $10 billion in INA [5]
According to Ministry of Foreign Affairs of Indonesia, INA has reached agreement with DP World from United Arab Emirates to develop and improving the infrastructures of Port of Belawan, Medan.[6] This cooperation also involved Prima Terminal Petikemas Ltd, a subsidiary of Pelindo.[6]
^"Audited Financial Statement 2022". Indonesia Investment Authority. p. 1-4. Retrieved 29 March 2024.
^Shofa, Jayanty Nada (February 16, 2021). "Indonesia's Sovereign Wealth Fund Unveils Initial Strategy to Attract Investors". Jakarta Globe. Retrieved 24 March 2021.
^"New Indonesia sovereign wealth fund eyes assets worth $2.6 bl". Reuters. Retrieved 24 March 2021.
^Bisara, Dion (24 March 2021). "UAE Unveils $10b Commitment to Indonesia's SWF, the Largest So Far". Jakarta Globe. Retrieved 24 March 2021.
^"UAE to invest $10 billion in Indonesia's sovereign wealth fund". Reuters. Retrieved 24 March 2021.
^ ab"MINISTRY OF FOREIGN AFFAIRS OF THE REPUBLIC OF INDONESIA". Indonesia and Dubai work together to develop Belawan Seaport. MINISTRY OF FOREIGN AFFAIRS OF THE REPUBLIC OF INDONESIA. 2023. Retrieved 24 February 2024. Indonesian Embassy in Abu Dhabi
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