Indonesia Investment Authority (INA), Indonesia’s newly launched sovereign wealth fund, is eyeing $2.6 billion worth of toll-road concessions, marking its foray into infrastructure, according to Reuters.
Following several months of planning, INA launched in February following the passage of a new job-creation law, which calls for the launch of a vehicle with $1 billion in initial funding from the state budget.
Reuters reports that the fund will seek to manage $20 billion worth of assets, including some $5 billion contributed by the state this year. Out of the $5 billion, $2 billion will be in cash from the state budget and the remaining $3 billion will be in shares of state-owned enterprises and assets.
Unlike SWFs in foreign countries, INA seeks foreign funds as co-investors to finance the country’s economic development and aid pandemic
