China Pledges $2B To Fund Developments In Latin America

Law360, New York (March 18, 2013, 2:05 PM EDT) -- China has agreed to provide up to $2 billion in financing for Inter-American Development Bank public and private sector projects in Latin America and the Caribbean, the IDB said Saturday.

The IDB reached a deal with state-owned People's Bank of China for a co-financing fund. The venture, the first Latin American project finance fund between China and a multilateral bank, is designed to promote sustainable economic growth in the region.

PBC agreed to provide up to $1.5 billion to co-finance IDB loans to private firms and...
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