Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence, President Prabowo Subianto said.

Danantara, the nation's newly established sovereign wealth fund, may end up stifling growth instead of fuelling it, analysts warn.

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.

Prabowo on Monday inaugurated the new fund, known as Daya Anagata Nusantara or Danantara, which is modeled partly on Singapore's investment arm Temasek.

Indonesian president Prabowo Subianto has launched plans for a new sovereign wealth fund aimed at supporting his strategic projects and boosting the country’s growth – but it’s already raising concerns of transparency and political interference.

JAKARTA-- Indonesia on Monday launched a much-anticipated sovereign wealth fund that government officials say is key to hitting President Prabowo Subianto's 8% target for economic growth.

Danantara Indonesia will invest $20 billion in a wide range of projects from metal processing to artificial intelligence.

The new fund, known as Daya Anagata Nusantara, or Danantara, which is modeled on Singapore's investment arm Temasek, was approved by the parliament this month. It will take control of government holdings in state companies,

Washington may not have a sovereign wealth fund, but almost half the U.S. states do. Indeed, the earliest precursor of a national sovereign wealth fund was established in the United States: in 1803, Ohio created a land trust to finance public education in the state.