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US Evaluating $2 Billion Investment in Indonesian Sovereign Wealth Fund

Patsy Widakuswara

   WASHINGTON - The United States International Development Finance
   Corporation is considering investing up to $2 billion into Indonesia's
   planned sovereign wealth fund.

   DFC Chief Executive Officer Adam Boehler presented a letter of interest
   to Indonesian Coordinating Minister for Maritime Affairs and Investment
   Luhut Pandjaitan during his visit to Washington last week, following
   their meeting with President Donald Trump at the White House.

   The White House has provided no details of [1]the Oval Office meeting,
   which according to a readout and photographs provided by the Indonesian
   government, also included White House advisers Ivanka Trump and Jared
   Kushner, who is Boehler's former college roommate.

   DFC is the development finance institution of the United States federal
   government, which helps facilitate private financing for development
   projects in lower and middle-income countries. A sovereign wealth fund
   is a government-owned investment pool of foreign currency reserves.

   Opaque investment funds in the region have come under greater scrutiny
   since the Malaysian government's disastrous 1MDB sovereign wealth fund
   scandal, which saw the country's former prime minister found guilty of
   corruption this past July. The plundering of billions of dollars in
   assets in one of the largest financial scandals in history involved 10
   countries and the American multinational investment bank Goldman Sachs.

References

   1. https://www.voanews.com/east-asia-pacific/white-house-mum-trump-meeting-indonesian-minister

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