China will invest US$50 billion to help overhaul Brazil’s ageing infrastructure, Brasilia said, ahead of an official visit by Premier Li Keqiang.
“There are US$50 billion in new projects,” said Jose Graca Lima, Brazil’s undersecretary of state, who oversees Asia and Oceania.
“We shall have to await the end of the visit to expand upon which projects,” he said, without providing details.
The Industrial and Commercial Bank of China Ltd. (ICBC) plans to start a fund of up to $50 billion, to be managed by Brazil’s state-owned bank Caixa Economica Federal, for investing in infrastructure projects in the South American country, according to a person familiar with the situation.
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“There are US$50 billion in new projects,” said Jose Graca Lima, Brazil’s undersecretary of state, who oversees Asia and Oceania.
“We shall have to await the end of the visit to expand upon which projects,” he said, without providing details.
The Industrial and Commercial Bank of China Ltd. (ICBC) plans to start a fund of up to $50 billion, to be managed by Brazil’s state-owned bank Caixa Economica Federal, for investing in infrastructure projects in the South American country, according to a person familiar with the situation.
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