ETF News

Indonesia says JBIC commits to invest $4 bln in new sovereign wealth fund

JAKARTA, Dec 4 (Reuters) - Indonesia’s government on Friday said the Japan Bank for International Cooperation has committed to invest $4 billion in the Southeast Asian country’s soon-to-be-launched sovereign wealth fund.

The commitment was conveyed by JBIC Governor Tadashi Maeda in a meeting with an Indonesian delegation led by Indonesia’s Coordinating Minister of Maritime Affairs and Investment Luhut Pandjaitan, according to a statement from the Indonesian embassy in Tokyo.

Jakarta would follow up the commitment by preparing the technical details, with the hope to realize the investment in the first quarter of 2021, the embassy said.

The JBIC was not immediately available for comment. (Reporting by Fransiska Nangoy; Writing by Gayatri Suroyo; Editing by Alex Richardson)