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China's Silk Road Fund to invest $3bn in Indonesia's INA

Deal targets all business sectors and reflects 'commitment' to bilateral ties

China's Silk Road Investment fund is placing a bet of $3 billion on opportunities in Indonesia.

JAKARTA -- China's Silk Road Fund on Monday said it will pump 20 billion yuan ($2.99 billion) into Indonesia through its first investment in the country's sovereign wealth fund.

The SRF, in a joint statement with the Indonesia Investment Authority, or INA, said the two sides have signed an "investment framework agreement" for potential deals in "various asset classes and fund of funds." The SRF is an investment vehicle of the Chinese government.

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