Indonesia’s sovereign wealth fund Danantara and the Russian Direct Investment Fund (RDIF) have signed an agreement to launch the Russia-Indonesia Direct Investment Platform (RIDNIP), a joint initiative with up to €2 billion ($2.3 billion) in capital to support investments in both countries and strengthen bilateral economic ties, according to an announcement on Thursday.
The agreement was signed by Kirill Dmitriev, CEO of RDIF, and Rosan Perkasa Roeslani, CEO of Danantara Indonesia, in the presence of Russian President Vladimir Putin and Indonesian President Prabowo Subianto on the sidelines of the St. Petersburg International Economic Forum.
RIDNIP will focus on investments in high-potential companies across strategic sectors, including infrastructure, energy, food security, and advanced manufacturing, aiming to promote technology transfer, industrial upgrading, and innovation-driven growth in both countries.
“This platform supports our long-term strategy to drive sustainable, cross-border investment that enhances resilience and accelerates industrial transformation,” said Roeslani. “It reflects our vision of enduring cooperation and mutual development.”
Dmitriev emphasized RIDNIP’s role in strengthening Russia–Indonesia ties: “This agreement reflects strong potential for joint projects across strategic sectors and our shared commitment to innovation and global competitiveness.”
This partnership follows several recent international alliances by Danantara. In April, it launched a $4-billion joint investment fund with the Qatar Investment Authority, targeting downstream industries, renewable energy, healthcare, and technology.
In May, Danantara partnered with the U.S. International Development Finance Corporation (USDFC) to support sustainable energy and digital transformation in Indonesia. It also initiated talks with Australia’s Future Fund to explore collaboration and potential membership in the International Forum of Sovereign Wealth Funds (IFSWF).
Established in 2011, RDIF is Russia’s sovereign wealth fund and a co-investment platform for strategic projects. The fund has partnered on more than 100 joint ventures totaling over ₽2.3 trillion ($29 billion) in investments.
