Indonesia Investment Authority

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.[1] 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.[2]

Indonesia Investment Authority
TypeSovereign wealth fund
FoundedFebruary 2021 (2021-02)
Headquarters
Jakarta
,
Indonesia
Total assetsUS$24.6 billion
OwnerGovernment of Indonesia
Websitewww.ina.go.id

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.[3] 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 [4]

Governance

INA reports directly to the President of Indonesia. The supervisory board is headed by the Finance Minister, the State Owned Enterprises Minister is also a member of the board.

Board of directors
  • CEO - Ridha Wirakusumah[5]
  • Deputy CEO - Arief Budiman
  • Investment Director - Stefanus Ade Hadiwidjaja
  • Risk Director - Marita Alisjahbana
  • Finance Director - Eddy Purwanto

Supervisory Board
  • Chairwoman and Supervisor - Finance Minister Sri Mulyani (ex officio)[6]
  • Supervisor - State Owned Enterprises Minister Erick Thohir (ex-officio)
  • Supervisor - Darwin Cyril Noerhadi
  • Supervisor - Yozua Makes
  • Supervisor - Hariyanto Sahari

References
  1. Shofa, Jayanty Nada (February 16, 2021). "Indonesia's Sovereign Wealth Fund Unveils Initial Strategy to Attract Investors". Jakarta Globe. Retrieved 24 March 2021.
  2. "New Indonesia sovereign wealth fund eyes assets worth $2.6 bl". Reuters. Retrieved 24 March 2021.
  3. Bisara, Dion (24 March 2021). "UAE Unveils $10b Commitment to Indonesia's SWF, the Largest So Far". Jakarta Globe. Retrieved 24 March 2021.
  4. "UAE to invest $10 billion in Indonesia's sovereign wealth fund". Reuters. Retrieved 24 March 2021.
  5. Aditya, Arys; Jiao, Claire (16 February 2021). "Indonesia Names Wirakusumah to Helm $100 Billion Wealth Fund". Bloomberg. Retrieved 8 April 2021.
  6. Adyatama, Egi (27 January 2021). "Jokowi Inaugurates Indonesia Investment Authority Supervisory Board". Tempo.co. Retrieved 8 April 2021.


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