Brazilian minister says Brazil-China Fund innovative, strategic

Source: Xinhua| 2018-05-30 11:16:40|Editor: mmm
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SAO PAULO, May 29 (Xinhua) -- Brazilian Minister of Planning, Development and Management Esteves Colnago said on Tuesday that the Brazil-China Cooperation Fund represents an innovative and strategic partnership between the two countries.

In an interview with Xinhua on the sidelines of 2018 Brazil Investment Forum in Sao Paulo, Colnago said the fund has approved five projects in Brazil, without naming the projects.

The Brazil-China initiative, launched at 2017 Investment Forum, foresees contributions of up to 20 billion U.S. dollars. The first five projects are expected to receive 2.4 billion out of the 20 billion dollars.

"We hope that, by the end of the year, we may publicize the projects, which are all very interesting," the minister said.

Colnago stressed China's importance as a partner and an investor to Brazil, saying that every two months, his ministry's secretariat for international affairs issues a bilateral bulletin on Chinese investments in Brazil.

"In the last report, the investments already totaled 54 billion dollars, which is a very significant amount, concentrated in the agriculture, mining and energy sectors," Colnago said.

Colnago called on China to keep faith in Brazil, as it is a country with great potential and presenting several opportunities for China.