"The assistance was discussed by both sides in an Indonesia-Australia Partnership meeting on food security here today," Himawan Hariyoga Djojokusumo of the Investment Promotion of the Capital Investment Coordinating Board (BKPM) said here on Thursday.
He said the fund was an initial offer from Australia and will be used to develop the livestock industry at home and to attract more investment from the federal state.
The BKPM official said the fund was expected to serve as a trigger for investments and help to attract more funds from Australia.
"The fund was allocated to support the partnership concrete program on food resilience," he said. It will also be used for human resource development in the livestock sector.
He said the fund was expected to be allocated through the partnership program in the next ten years.
"This is still in the initial discussion stage. It will be discussed first in detail. When it is officially agreed, it will be announced," Himawan said.