China gives USD22b loan to Latin America in 2014
(MENAFN) The Chinese government gave USD22.1 billion loan to Latin American countries in 2014 in order to aid struggling economies hit by the fall in oil prices, Saudi Gazette reported.
The annual loan is the second highest in ten years and exceeded combined loans to the region from multilateral lenders like World Bank and the Inter-American Development Bank.
Specifically, China loaned USD8.6 billion to Brazil, USD7 billion to Argentina, USD5.7 billion to Venezuela and USD821 million to Ecuador in the year of 2014.
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