June 5, 2017 |
State-owned lenders BNDES and Caixa Economica Federal will manage a $20bn infrastructure fund formed by Brazil and China to invest in infrastructure projects in the South American country.
The Brazil-China Cooperation Fund will receive $15bn from the Chinese Cooperation Fund for Investment in Latin America (Claifund) and $5bn from financial institutions in Brazil. The fund is open to other banks in Brazil, other than BNDES and Caixa, BNDES said in a statement.
For every $1 that the Brazilian ban
State-owned banks will contribute $5bn to the $20bn fund, but other local banks could also participate