JAKARTA] Indonesia launched the Danantara investment fund on Monday (Feb 24), a high-stakes, multi-billion-dollar initiative designed to consolidate the country’s state-owned enterprises (SOEs), while catalysing investment and fuelling the nation’s ambitious growth trajectory.

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.

Indonesian authorities formally launched a new sovereign wealth fund on Monday that will aim to manage state assets worth more than $900 billion

Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence, President Prabowo Subianto said on Monday, as he launched the country's new sovereign wealth fund.

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 Southeast Asia's biggest economy.