Danantara to Issue 'Merah Putih' Bonds, Finance Minister Denies Mandatory Purchase for Wealthy Indonesians

The House of Representatives (DPR RI) has approved the Bill on the amendment to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK) into law. One of the changes in the regulation authorises the Investment Management Agency (BPI) Daya Anagata Nusantara (Danantara) to issue special debt securities.

Finance Minister Purbaya Yudhi Sadewa stated that Danantara can issue special bonds, including Patriot Bonds and Merah Putih Bonds. This is an effort to strengthen capital mobilisation to support national development financing and economic growth amidst high global uncertainty.

“In the context of capital mobilisation to drive the national economy amid conditions of high global uncertainty, this Bill stipulates that BPI Danantara may issue special debt securities, including Patriot Bonds and Merah Putih Bonds,” Purbaya said at the DPR RI, Jakarta, as quoted on Thursday (4/6/2026).

Purbaya hopes that the issuance of these instruments can expand long-term funding sources for national strategic projects while strengthening Danantara’s investment capacity. He assured that the issuance of these special bonds would not be conducted carelessly.

“The issuance of special bonds will be carried out by establishing strategies, management policies, and risk control managed professionally, accountably, and based on sound business considerations,” he said.

Regarding the issue of a mandatory purchase obligation for Indonesian citizens (WNI) who have an Annual Tax Return (SPT) with asset values above Rp 3 billion, Purbaya denied this. However, he mentioned that special incentives would be provided if someone participates in purchasing bonds issued by Danantara.

“There is no obligation, but incentives will be given so that it is attractive to people who have money, something like that. As far as I know, it is not mandatory up to now, when I attended the meeting at the Palace, but I do not know if it has changed. As far as I know, the president never said it was mandatory,” Purbaya remarked.

When asked what form of incentive would be given, Purbaya admitted he did not yet know. “I am only carrying out the president’s orders,” he added.