To Get Personalised contents and be able to add items to your favourites, please Sign In or Sign Up          

China to create US$20bn infra fund for LatAm

News » Sports


China has committed US$20bn in infrastructure project financing in Latin America and the Caribbean after President Xi Jinping's meetings with regional leaders this week in Brazil during the BRICS summit.

Brazilian President Dilma Rousseff said the fund will start with US$10bn and will be available in 2015.

"The Chinese government has proposed some actions to strengthen relationships with Latin America such as launching a fund specifically to finance infrastructure projects with US$20bn," Rousseff told reporters. "That's an exclusive proposal from China."

Xi Jingping met with a dozen Latin American and Caribbean leaders, including Chile's Michelle Bachelet, Colombia's Juan Manuel Santos and Ecuador's Rafael Correa.

China has been actively involved in infrastructure projects in Latin America, from railroads in Argentina andBrazil to a proposed US$40bn canal in Nicaragua, among other energy and logistics projects.

China will also create a preferred credit line for the region for up to US$10bn, and another US$5bn for other projects.

Article Credit: Bnamericas

Updated 5 Years ago

Find Us On Facebook

Tags:     China     LatAm     Brazilian President Dilma Rousseff     President Xi Jinping     Chile's Michelle Bachelet     Juan Manuel Santos     Ecuador's Rafael Correa.