China Offers Latin American Countries US$10 Billion Line of Credit

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Jun. 27 – While wrapping up his tour of Latin American on Tuesday, Chinese Premier Wen Jiabao put forth an offer to establish a US$10 billion line of credit through China’s Development Bank to support infrastructure projects in the region. He said China would also create an addition US$5 billion fund to support further cooperation between China and the countries of Latin America and the Caribbean.

“[The Chinese government] will continue to offer economic assistance to countries in the region that are interested,” Wen told the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), according to a Reuters report. Continue reading…

China and Inter-American Development Bank Announce US$1 Bln Investment Fund

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By Gregor Hastings

Mar. 22 – China and the Inter-American Development Bank (IADB) have recently announced plans for a US$1 billion investment fund to help develop Latin American and Caribbean markets.

The IADB and China’s state-owned Export-Import Bank of China will each make investments of $150 million and the remaining funds will be raised from the market. The purpose of the fund is to finance public and private sector projects in addition to making equity investments in the region.

“This new platform will promote stronger investment ties between China and Latin America and the Caribbean and will help our region overcome some of the most important development challenges,” said IADB President Luis Alberto Moreno. Continue reading…

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