China’s central bank announced that the People’s Bank of China (PBOC), the central bank, the State Administration of Foreign Exchange, and the China Development Bank (CDB) have established a US$10 billion fund dedicated to investing in cooperative endeavors within Latin America. 

 

The Sino-Latin American Production Capacity Cooperation Investment Fund Co. Ltd will pursue investments in, and the funding of medium and long-term projects in new and high technologies, agriculture, manufacturing, infrastructure, energy, and finance in Latin America. The fund will be jointly managed by the three founding entities.

 

"The fund is willing to work with both domestic and overseas institutions to push forward the upgrading of Sino-Latin American cooperation," the central bank statement expressed.