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UPDATE 1-China to set up $10 bln Latin America investment fund
September 1, 2015 / 9:38 AM / 2 years ago

UPDATE 1-China to set up $10 bln Latin America investment fund

(Adds details)

BEIJING, Sept 1 (Reuters) - China’s central bank will establish a $10 billion fund for investment in Latin American countries, it said in a statement on its website on Tuesday.

The People’s Bank of China(PBOC) said it would jointly manage the fund with policy lender China Development Bank(CDB) and the country’s foreign exchange regulator.

Areas in which the fund will invest include manufacturing , hi-tech, agriculture, energy and mining companies, as well as infrastructure projects.

The funding will come from China’s foreign exchange reserves - which are the world’s largest - and the CDB, the central bank said. (Reporting by Winni Zhou and Nick Heath. Editing By Nicholas Heath)

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