China Huayang Economic and Trade Group Co. Ltd has set up a US$3 billion fund to support Chinese investment in Brazil or in Brazilian companies wishing to enter the Chinese market, Valor Econômico reports.
The Brazilian newspaper says the Brazil-China International Development Chamber of Commerce represents the fund, and quotes the president of the chamber, Fabio Hu, as saying he hopes to close the first financing deals this year.
Mr Hu said investments in infrastructure, logistics, construction and agriculture would have priority.
He said the fund would focus on projects requiring investment of US$100 million or more, and that it could finance up to 85 percent of each, charging annual interest of about 4 percent – much less than the market rates in Brazil, Valor Econômico says.
