The Indonesia Investment Authority (INA) has signed a memorandum of understanding (MoU) worth CAD 825 million (US$594 million) with Canada’s export credit agency, Export Development Canada (EDC), to bolster bilateral investment opportunities. Under the agreement, EDC will allocate financing for Indonesia’s sovereign wealth fund, particularly for projects in priority sectors such as infrastructure, clean technology, renewable energy, agriculture, and food. The MoU outlines financing solutions and joint opportunities within an Indonesia–Canada nexus across these priority sectors, leveraging EDC’s global financing capabilities and INA’s deep local insight.
Ridha Wirakusumah, CEO of INA, said the partnership reflects the shared commitment of both institutions “to build a mutually beneficial platform between Canada and Indonesia.” The collaboration is expected to strengthen INA’s role in channeling investment into sectors critical to Indonesia’s long-term competitiveness, Ridha added. “Beyond financing, the collaboration is about structuring credible opportunities that attract global capital, bring innovation, and deliver tangible socioeconomic impact. In doing so, we aim to deepen trust and create lasting opportunities that drive shared prosperity for both countries,” she stated in a press release on Thursday.
Todd Winterhalt, Senior Vice President of International Markets at EDC, highlighted that Indonesia is one of the fastest-growing economies in the Indo-Pacific region and has become a major investment destination for Canadian exporters. “Our partnership with INA reflects EDC’s dedication to fostering robust socioeconomic growth in the country and the region. This collaboration aims to significantly enhance trade between our nations, especially in sectors where Canadian companies excel,” Todd said, as quoted in the same press release.
On Thursday, President Prabowo Subianto and Canadian Prime Minister Mark Carney signed the Canada–Indonesia Comprehensive Economic Partnership Agreement (CEPA), marking Canada’s first bilateral trade agreement with an ASEAN country. The agreement, which will eliminate or reduce tariff and non-tariff barriers between the two nations, is set to take effect next year. In 2024, Indonesia was Canada’s largest export market and a major investment destination in Southeast Asia. In September 2023, EDC opened its Jakarta office to tap into the country’s “significant opportunities” for Canadian exporters and investors.
Meanwhile, INA was established in 2020 to attract foreign investors to domestic projects, with an initial capital of IDR 75 trillion (US$4.5 billion), and currently manages assets of around IDR 160 trillion. In July, the sovereign wealth fund reported capital deployment totaling IDR 4.5 trillion during the first five months of this year, together with its partners, increasing its overall disbursement from IDR 60.9 trillion in December 2024 to IDR 65.4 trillion as of May 2025. By the end of last year, INA had channeled IDR 24.9 trillion in cumulative capital, along with IDR 36 trillion from co-investors, across four national priority sectors: transport and logistics, green energy and transformation, digital infrastructure, and health care.
In 2024, INA secured IDR 8.2 trillion in investment from the United Arab Emirates’ Abu Dhabi Investment Authority (ADIA) and APG Asset Management for the Medan–Binjai and Bakauheni–Terbanggi Besar sections of the Trans-Sumatra Toll Road. INA has also partnered with state asset fund Danantara in a deal with French miner Eramet to invest strategically in the nickel supply chain, as well as in the factory expansion of Chandra Asri Group, a publicly listed petrochemical giant.
September 25, 2025, The Jakarta Post
(https://www.thejakartapost.com/business/2025/09/25/ina-seals-594m-financing-deal-with-canadas-state-lender.html)