President Xi Jinping has announced a new $9 billion yuan-denominated credit line and expanded infrastructure investment for Latin America and the Caribbean, aiming to strengthen China's presence in the region while encouraging balanced and diversified cooperation.
President Xi Jinping pledged to deepen China’s economic and strategic engagement with Latin America and the Caribbean, unveiling a 66 billion yuan ($9.18 billion) credit facility for member countries of the Community of Latin American and Caribbean States (CELAC).
The announcement came during the China-CELAC Forum Ministerial Meeting in Beijing, where representatives from around 30 countries gathered for the high-level summit held every three years.
“China and the countries of Latin America and the Caribbean are important members of the Global South,” Xi said, emphasizing shared values such as independence, development, fairness, and justice. “Development and revitalization are our natural rights.”
Xi also promised expanded Chinese imports from Latin America and encouraged Chinese enterprises to pursue new investment opportunities across the region, underscoring Beijing’s long-term vision of deeper integration with CELAC nations.
The move further advances China's ambition to position itself as a leading development partner in the Americas, complementing ongoing projects under the Belt and Road Initiative. However, some governments, including Brazil, have urged caution about becoming overly reliant on external financing.
Despite this, analysts say the yuan-based credit line could offer valuable liquidity, especially for countries seeking to diversify away from dollar-denominated debt. “Access to capital is now more limited globally,” noted Eric Orlander, co-founder of the China-Global South Development Project. “These yuan-based agreements can make it easier for borrowing nations to transact and stabilize their economies.”
While challenges remain, particularly in balancing long-term debt sustainability, Xi’s pledges signal Beijing’s continued commitment to expanding cooperation and economic interdependence with Latin America.
A wheat-loaded train has traveled to Armenia through Azerbaijan, APA reports, following President Ilham Aliyev’s announcement in Kazakhstan about li...
The death toll from Typhoon Kalmaegi that hit the central Philippines on Tuesday has risen to 39 on the island of Cebu, a local government official sa...
Within the framework of the 'Year of the Constitution and Sovereignty,' and on the occasion of the 150th anniversary of the Azerbaijani National Press...
Voters in New Jersey and Virginia will choose their next governors on Tuesday in two crucial races that will serve as an early indicator of how the Am...
President Recep Tayyip Erdoğan has announced a major acceleration in Türkiye’s defence ambitions, pledging to move forward rapidly with homegrown ...
The death toll from Typhoon Kalmaegi that hit the central Philippines on Tuesday has risen to 39 on the island of Cebu, a local government official said.
Voters in New Jersey and Virginia will choose their next governors on Tuesday in two crucial races that will serve as an early indicator of how the American electorate is responding to President Donald Trump's unprecedented nine months in office.
President Recep Tayyip Erdoğan has announced a major acceleration in Türkiye’s defence ambitions, pledging to move forward rapidly with homegrown projects and strengthen cooperation with Europe.
English actor Jonathan Bailey, who returns to movie theatres this month in the musical film "Wicked: For Good," was named this year's "sexiest man alive" by People magazine on Monday (3 November).
Russia said on Monday that its troops had advanced in the eastern Ukrainian city of Pokrovsk, a transport and logistics hub that they have been trying to capture for over a year, but Ukraine said its forces were holding on.
At least 37 people have died and five are missing after devastating floods and landslides hit central Vietnam, officials said Monday, as a new typhoon threatens to worsen the disaster.
U.S. President Donald Trump said he does not believe the United States is going to war with Venezuela despite growing tensions, though he suggested President Nicolás Maduro’s time in power may be nearing its end.
A powerful earthquake measuring 6.3 struck near the northern Afghan city of Mazar-e Sharif early on Monday, leaving at least 20 people dead, hundreds injured, and causing significant damage to the city’s famed Blue Mosque, authorities said, warning that the death toll was expected to rise.
Tanzania's President Samia Suluhu Hassan vowed on Monday to move on from deadly protests set off by last week's disputed election as she was sworn into office for her first elected term.
The death toll from Typhoon Kalmaegi that hit the central Philippines on Tuesday has risen to 39 on the island of Cebu, a local government official said.
Voters in New Jersey and Virginia will choose their next governors on Tuesday in two crucial races that will serve as an early indicator of how the American electorate is responding to President Donald Trump's unprecedented nine months in office.
Cheney who was considered by presidential historians as one of the most powerful vice presidents in U.S. history has died at age 84, his family said in a statement on Tuesday.
A Romanian worker trapped for hours under the rubble of a partially collapsed medieval tower near the Colosseum in central Rome has died, Italian and Romanian authorities said on Tuesday.
A Ukrainian man suspected of coordinating the 2022 sabotage of the Nord Stream gas pipelines has begun a hunger strike, demanding respect for his fundamental rights in prison, his lawyer said on Tuesday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment