Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence, President Prabowo Subianto said.

Indonesian president Prabowo Subianto has launched plans for a new sovereign wealth fund aimed at supporting his strategic projects and boosting the country’s growth – but it’s already raising concerns of transparency and political interference.

The fund will invest US$20 billion (S$27 billion) in 20 projects to drive development in the nation. Read more at straitstimes.com.

He wants to tap into the fund's assets -- planned to be more than $900 billion -- to boost Indonesia to developed economy status, despite expert concern about its governance.

Indonesia has launched a new sovereign wealth fund to manage more than US$900 billion of state assets, two weeks after its parliament approved legislative amendment paving the way for the creation.

Prabowo on Monday inaugurated the new fund, known as Daya Anagata Nusantara or Danantara, which is modeled partly on Singapore's investment arm Temasek.

Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence.

JAKARTA-- Indonesia on Monday launched a much-anticipated sovereign wealth fund that government officials say is key to hitting President Prabowo Subianto's 8% target for economic growth.

The new fund, known as Daya Anagata Nusantara, or Danantara, which is modeled on Singapore's investment arm Temasek, was approved by the parliament this month. It will take control of government holdings in state companies,

Indonesia on Monday launched a new sovereign wealth fund that will aim to manage state assets worth more than $900 billion as President Prabowo Subianto looks to turbo-charge growth in