The leaders of Brazil and China have announced measures to increase their collaboration in trade and investment, including a $50-billion investment by the Asian nation in Brazil’s infrastructure.
The fund, to be administered by the Caixa Econômica Federal, a Brazilian bank, will support the development of projects such as the transcontinental railroad, which links the Brazilian state of Tocantins to Peru.
Alongside the infrastructure fund, the two countries pledged to create a joint pot of $20bn for manufacturing, to include support for the steel, cement and glass industries.
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