China-LAC Cooperation Fund
| Company type | Multilateral investment and financing cooperation fund |
|---|---|
| Industry | Investment Management;Project Finance |
| Founded | 2015 |
| Headquarters | 30 Fuxingmennei Street,Xicheng District,Beijing |
TheChina-LAC Cooperation Fund(abbreviatedCLAC Fund) is a multilateral investment and financing cooperation fund established by theChinesegovernment. The CLAC Fund is divided into a US$2 billion co-financing facility and US$3 billion investment fund. Both the co-financing facility and fund support investments and projects inLatin Americaand theCaribbean.[1]
It is one of three multilateral cooperation funds created by the Chinese government to advance the economic relationship between China and Latin America. The other two areSino-Latin American Production Capacity Cooperation Investment Fund(China-LAC Industrial Cooperation Investment Fund) and theSpecial Loan Program for China-Latin America Infrastructure Project.[2][3]
Investment fund
[edit]The initial scale of the investment fund is US$3 billion contributed by the Chinese government. The investment fund is administered by theExport-Import Bank of China.[1]The fund has made investments inBrazilandJamaica.In Brazil the fund was involved in the acquisition of a project fromDuke Energyand an investment inElectrosul.[4]
Co-financing fund
[edit]The co-financing fund is funded by a capital contribution of US$2 billion from theChinese government.It is administered by theInter-American Development Bank(IDB) to finance alongside lending by the IDB for projects in "education, water conservancy and energy, etc." inLatin Americaand theCaribbean.[1]
References
[edit]- ^abc"Introduction of the China-LAC Cooperation Fund".China-CELAC Forum.
- ^Li, Yuanbo; Zhu, Xuefeng (April 17, 2019)."The 2030 Agenda for Sustainable Development and China's Belt and Road Initiative in Latin America and the Caribbean"(PDF).Sustainability.11(8): 2297.doi:10.3390/su11082297.S2CID159185022.
- ^Gallagher, Kevin (February 12, 2016)."China doubles bets on ailing Latin American economies".Financial Times.
- ^Myers, Margaret; Gallagher, Kevin P. (March 30, 2018)."Chinese development finance" down but not out "in Latin America".Global Americans.
