UAE turns ‘largest investor’ with $10bn pledge for Indonesia wealth fund

JAKARTA: Indonesia on Wednesday welcomed the UAE’s commitment to invest $10 billion in its recently launched sovereign wealth fund, which a senior official said made the emirates the “largest major investor” in the initiative.

“With this investment, so far the UAE has become the largest major investor in the Indonesia Investment Authority (INA),” Husin Bagis, Indonesia’s ambassador to the UAE, told Arab News on Wednesday.