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Economy

BlackRock wants to fund Indonesia's $33bn new capital: minister

Asset manager weighs joining investment planned by Tony Blair and Masayoshi Son

U.S. asset manager BlackRock is looking to join an investment package to fund Indonesia's 256,000-hectare new capital on Borneo island.   © Reuters

JAKARTA -- U.S. asset manager BlackRock looks to join a fund planned by SoftBank Group chief Masayoshi Son and former British Prime Minister Tony Blair to develop Indonesia's new capital city, the country's investment minister said Friday.

Luhut Binsar Pandjaitan, the coordinating minister for investment, told reporters of the fund -- and the opportunity for other investors to join -- after Blair and Son held a two-hour meeting with Indonesian President Joko Widodo at the presidential palace in Jakarta on Friday.

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