AFP, Brasilia :
Chinese President Xi Jinping proposed Thursday to create a $20 billion fund to finance infrastructure projects in Latin America and the Caribbean.
The fund was announced at the end of a summit hosted by Brazilian President Dilma Rousseff that marked the launch of the China-Latin America-Caribbean Forum.
“They proposed to do it immediately so that it can be ready next year. This money is an exclusively Chinese proposal,” Rousseff told reporters in Brasilia, adding that the fund would have initial capital of $10 billion.
