INA, EDC ink $592M strategic partnership to expand Canada-Indonesia investment opportunities

Export Development Canada (EDC), Canada’s export credit agency, and the Indonesia Investment Authority (INA), Indonesia’s sovereign wealth fund, have signed a CAD$825 million ($592 million) Market Leader Partnership memorandum of understanding (MOU) to strengthen bilateral investment ties and promote sustainable economic development between the two nations. The duo said in a statement Market Leader Partnership MOU, signed in Ottawa, sets out a framework for collaboration, outlining how both institutions will explore financing solutions and joint opportunities with an Indonesia–Canada nexus across priority sectors such as infrastructure, cleantech and renewable energy and agrifood. The partnership leverages EDC’s global financing capabilities and INA’s deep local insight and investment mandate to enhance bilateral socio-economic cooperation and unlock new opportunities for Canadian and Indonesian businesses. Under the Market Leader Partnership MOU, EDC has established a financing allocation of up to CAD$825 million ($592 million) for INA’s investments, enabling the advancement of projects in these priority sectors. In 2024, Indonesia was Canada’s largest export market in Southeast Asia and a significant investment destination. With more than 270 million inhabitants, the country’s economy is the largest in Southeast Asia and has been growing at a steady pace for the past decade. Indonesia provides significant opportunities for Canadian exporters and investors, which is why in September 2023 EDC opened its representation in Jakarta. “Canada and Indonesia share a dynamic partnership rooted in trade, investment, and people-to-people ties, “This new collaboration with EDC will give Canadian businesses a stronger foothold in diverse sectors such as agriculture, clean tech, and infrastructure,” said Maninder Sidhu, Minister of International Trade of Canada. He added that this collaboration will support good jobs here at home, and deepen Canada’s role in one of the world’s fastest-growing regions. Todd Winterhalt, Senior Vice-President, International Markets at EDC, said Indonesia stands as 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 socio-economic growth in the country and the region, “This collaboration aims to significantly enhance trade between our nations, especially in sectors where Canadian companies excel, such as renewable energy, clean technologies and infrastructure,” he added. Ridha Wirakusumah, Chief Executive Officer of INA, said this partnership reflects their shared commitment to build a mutually beneficial platform between Canada and Indonesia, enabling Canadian capital and capabilities to support Indonesia’s growth while opening new opportunities for Canadian businesses in one of Asia’s fastest-growing economies, and at the same time strengthening INA’s role in channeling investment into sectors critical for Indonesia’s long-term competitiveness. “Beyond financing, the collaboration is about structuring credible opportunities that attract global capital, bring innovation and deliver tangible socio-economic impact, “In doing so, we aim to deepen trust and create lasting opportunities that drive shared prosperity for both countries,” he added. Through the Market Leader Partnership MOU, EDC will leverage its portfolio, expertise and established relationships with Canadian exporters and investors to promote business opportunities in Indonesia. Founded in 2020 by the Indonesian government, INA plays a central role in supporting Indonesia’s economic development and attracting investments tied to its sustainability goals. With a focus on balancing optimal risk-adjusted returns with long-term national development, INA supports investments across Indonesia’s priority sectors, including transport, logistics and infrastructure, digital, green energy and the blue economy, healthcare and advanced materials, which are also aligned with EDC’s strategic priorities, said the statement. INA announces appointment of two chief investment officers