News Americas, Calgary, Canada, Tues. Mar. 29, 2011: Chinese and international investors could soon be presented to producers in Latin America and the Caribbean under a new fund.
The Inter-American Development Bank (IDB) and the Export-Import Bank of China (China Eximbank) have agreed to set up an investment fund to forge sustainable economic partnerships between China, Latin America and the Caribbean by investing in key sectors of interest to both regions.
Using a variety of instruments and currencies, the fund would invest in infrastructure, energy and natural resources projects as well as in small and medium-sized enterprises active in the distribution chain of these industries.
China Eximbank Executive Vice President Liu Liange and IDB President Luis Alberto Moreno signed both agreements Monday in a ceremony that took place during the IDB’s Annual Meeting.
“These initiatives mark a new milestone in the cooperation between China Eximbank and the IDB to foster trade and investment activities between Latin America and the Caribbean and China,” Moreno said. “Once established, the investment fund will support projects in areas of high importance for the region’s economic agenda. It will bring together Chinese and international investors with producers in Latin America and the Caribbean, further expanding the pool of financing available to support the regional economic development.”
China Eximbank is a government policy bank enjoying the same international credit ratings as China’s sovereign ratings.