More Assets are Transferred to Indonesia Investment Authority to Shore up Assets

Posted on 11/09/2021

Indonesian President Joko Widodo is using his authority to increase 60 trillion rupiahs (US$ 4.18 billion) in asset worth into the Indonesia Investment Authority (INA). 15 trillion rupiahs of asset worth are coming from the state capital injection of Penyertaan Modal Negara (PMN) from this year’s 2021 budget. The other 45 trillion rupiahs in asset worth are in the form of equity from Bank Mandiri and Bank Rakyat Indonesia (BRI). The injection reduces the Indonesian government’s stakes in the two state-owned lenders to 52% each from previously 60% shares in Bank Mandiri to and 56.75% in Bank Rakyat Indonesia.

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