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Economy

US to invest $2bn in Indonesia sovereign wealth fund

DFC's pledge shows Washington's commitment to combating Beijing's influence

JAKARTA -- Indonesia said Monday its planned multibillion dollar sovereign wealth fund will receive a $2 billion investment from the U.S.'s new development bank.

Adam Boehler, the head of United States International Development Finance Corporation (DFC) signed a letter of interest last week during a visit to Washington by Luhut Pandjaitan, Indonesia's coordinating minister of maritime affairs and investment, the ministry said in statement.

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