IDB Official: In Talks With CIC On US$1B Trade Co-Financing

According to the Wall Street Journal, “the Inter-American Development Bank is in talks with China Investment Corp. on a US$1 billion arrangement for trade promotion co-financing, Jean-Marc Aboussouan, chief of the multi-lateral lender’s infrastructure division, said Wednesday.

‘Talks are going well,’ Aboussouan added.

Earlier, Steven Puig, vice president for the private sector and non-sovereign guaranteed operations of the Washington-based IDB, said the IDB was poised to announce the arrangement with a Chinese agency. CIC is China’s $300 billion sovereign wealth fund. The IDB is the largest source of multilateral financing for Latin America and the Caribbean.”

read more: Wall Street Journal

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