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UAE enters into cooperation with Indonesian sovereign fund

File picture of Jakarta business district in Indonesia.
  • The investment framework agreement was signed with the Abu Dhabi Growth Fund
  • It made a $10-billion investment in the Indonesian sovereign wealth fund in March, according to a statement on Saturday by the Indonesian Investment Authority

The United Arab Emirates and Indonesia’s State Wealth Fund has signed a new agreement to allow funds from the former to invest in a variety of high-yielding financial products, according to media reports.

The investment framework agreement was signed with the Abu Dhabi Growth Fund which made a $10-billion investment in the Indonesian sovereign wealth fund in March, according to a statement on Saturday by the Indonesian Investment Authority (INA).