Inter-American Development Bank and China announce 1 billion dollar investment fund Latin America

Posted on March 21, 2012 • Filed under: Business, China, Latin America News

The Inter-American Development Bank (IDB) announced Monday the establishment of an investment fund in Latin America and the Caribbean with China worth U.S. $ 1,000 billion focusing on sustainable development projects. The fund, expected to start operations later this year, is the result of a letter of intent signed by the IDB and the Export-Import Bank of China (China Eximbank) in 2011. “This new platform will encourage stronger investment links between China and Latin America and the Caribbean, helping our region to overcome some of the most important development challenges”, said IDB President Luis Alberto Moreno from Colombia. Read Article

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