BEIJING, July 5 (Xinhua) -- China's Silk Road Fund has inked an investment framework agreement with the Indonesia Investment Authority to jointly pursue investment cooperation opportunities in Indonesia.

The two parties will establish a long-term and win-win strategic partnership and leverage their respective resources and expertise to promote socioeconomic development and connectivity between China and Indonesia, according to the Fund.

Given the vast investment potential in Indonesia and Southeast Asia, the Silk Road Fund intends to invest up to 20 billion yuan (about 3 billion U.S. dollars) or the equivalent amount of foreign currencies under the agreement.

The two sides will cooperate via various forms of investment with a focus on supporting local projects that benefit people's livelihoods and promote development in Indonesia, the Fund said.