China proposes investment fund and credit line for Latin America
Xi Jinping is also behind the proposed creation of a China-Latin America and Caribbean Think Tank Forum which should convene the region's Foreign Ministers for the first time in January 2015 in Beijing.
The President of China, Xi Jinping, proposed the creation of two funds totaling $25 billion and a special credit line of up to $10 billion for Latin America and Caribbean.
Xi Jinping is also behind the proposed creation of a China-Latin America and Caribbean Think Tank Forum which should convene the region's Foreign Ministers for the first time in January 2015 in Beijing.
President Dilma Rousseff announced China's proposals for “closer relations with Latin America” after the China-Brazil and CELAC Summit with leaders from Latin America and the Caribbean on Thursday (17) in Brasília.
One of the funds will provide $20 billion to finance infrastructure projects, with a start-up capital of $10 billion. Another fund for cooperation in development areas (to be defined) will rely on $5 billion.
According to the president of Venezuela, Nicolás Maduro, the terms and conditions for access to resources proposed by the President of China should be defined at the forum's convention in January.
*With additional reporting by Luciano Nascimento
Translated by Mayra Borges
Fonte: China proposes investment fund and credit line for Latin America
