Jakarta, Feb. 24 -- President Prabowo Subianto announced that Indonesia's newly launched sovereign wealth fund, Daya Anagata Nusantara (Danantara), will be one of the largest in the world.

"The people of Indonesia should be proud because, with total assets of more than 900 billion US dollars, Danantara Indonesia will be one of the biggest sovereign wealth funds in the world," he remarked at the launch of the Danantara Investment Management Agency here on Monday.

Prabowo stated that during the first 100 days of his presidency, the government had secured nearly USD20 billion in savings.

Previously plagued by inefficiency, corruption, and poorly targeted spending, the funds will be allocated to be managed by the Danantara Investment Manag...