Malaysian Firms Urged To Venture Into Latin America, Caribbean
Malaysian Firms Urged To Venture Into Latin America, Caribbean
KUALA LUMPUR, April 22 (Bernama) -- The Malaysia External Trade Development Corporation (Matrade) is urging Malaysian companies with strong business linkages with China to explore partnership options with their Chinese partners to venture into Latin American countries and the Caribbean.
In a statement Monday, Matrade said the Inter-American Development Bank (IDB) last month announced a China Co-financing Fund for Latin America and the Caribbean, another initiative by China to increase bilateral trade with these two regions.
It said the Fund, aimed at supporting public and private sector projects that promote sustainable economic growth in the region, is the first of its kind established by China and a multilateral development bank.
"The proposed US$2 billion contribution by China will be used to co-finance a total of up to $500 million of IDB public sector loans and up to US$1.5 billion for loans made by the Bank to private sector entities," it said here today.
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