China and IDB To Launch $1Bn Fund for Latin America
Date Published: 03/20/2012
BBC News, March 20, 2012
China and the Inter-American Development Bank will create a billion dollar fund for public and private projects in Latin America. Analysts say China’s decision to lend is motivated by the abundant natural resources and high potential for growth in Central and South America. Latin American economies would benefit from the investments, but some predict the terms of the loan will stipulate the borrowers must purchase Chinese oil, equipment, and other resources while building up their infrastructure. –Kimberly Dimicco
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