China and IDB to launch $1bn fund for Latin America
London - Arabstoday
The fund will make equity investments in the region and also finance public as well as private sector projects. State-owned Export-Import Bank of China and IDB will invest $150m each with rest of the funds to be raised from the market. China has been looking to increase its investment in the region's economies. Luis Alberto Moreno, IDB president said: "This new platform will promote stronger investment ties between China and Latin America and the Caribbean and helping our region overcome some of the most important development challenges."
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