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…