Bambang Ismoyo, Jakarta – Danantara is open to the possibility of backing the government's 3 million affordable housing program, according to the fund's boss Rosan Roeslani.

President Prabowo Subianto wants to build 3 million affordable houses each year. He has also put Housing Minister Maruarar Sirait to oversee this program and search for investors.

About two months ago, Prabowo launched Indonesia's second sovereign wealth fund Danantara, which would consolidate the assets of the country's government-run businesses under its wings. The fund will get $20 billion in initial capital to invest in various strategic projects. At present, the fund is making the necessary calculations to make sure that the projects that they are about to invest in are really worth the money.

Rosan revealed to reporters that Danantara was open to discussions to have the fund back the colossal housing program. However, the project still has to meet the criteria that Danantara has set.

"We are open to all suggestions made by the ministries, private sector, or anyone else. One thing for sure is that [the project] has to satisfy the criteria and parameters we have made," Rosan said in Jakarta on Tuesday.

Danantara will consider factors such as investment return, job creation, and industrialization before investing in a project. Rosan said not long ago that Danantara would also only pick investment-ready projects, saying that they must have all the necessary permits ready. Maruarar had previously tried nudging Rosan into having Danantara take part in the housing project.

This program sees Indonesia building 2 million affordable houses in rural areas and another 1 million homes in cities each year.

The government claimed that Danantara would be among the world's largest sovereign wealth funds, boasting over $900 billion in assets under management.

Source: https://jakartaglobe.id/business/danantara-open-to-backing-3-million-affordable-housing-progra