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Indonesia's new state fund to focus on nation's infrastructure
SWF makes up for limited financing capacity at home, meets funding needs: Jokowi
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Soekarno-Hatta Airport in Jakarta. The Indonesia Investment Authority will utilise its first batch of funds to invest in three sectors: toll roads, airports and seaports.
PHOTO: REUTERS
Wahyudi Soeriaatmadja Indonesia Correspondent In Jakarta, Wahyudi Soeriaatmadja
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Indonesia's newly formed sovereign wealth fund (SWF) will initially focus on infrastructure in the country and President Joko Widodo yesterday said it would make up for the limited financing capacity at home.
He described the Indonesia Investment Authority (IIA) as a breakthrough for the funding needed to build and develop infrastructure at home, pointing out that public debt was mounting while state-owned companies had a limit in their capacity to borrow funds.
