Meeting with the Chinese leader is the delegation’s last commitment in the country; the trip resulted in R$24.6 billion in financing

The vice-president and minister of Industry and Commerce, Geraldo Alckmin (PSB), met with the president of China, Xi Jinping, this Friday (June 7, 2024). The meeting at the People’s Palace, headquarters of the Chinese Legislature, ended the mission of the delegation of ministers to the country, which, according to the government, resulted in R$24.6 billion in financing for Brazil.

Executive representatives and ministers from the respective countries participated in the 7th Plenary Session of Cosban (Sino-Brazilian High Level Concertation Commission).

Among the agreements signed is the loan of R$5 billion to support the reconstruction of Rio Grande do Sul. The partnership was signed between the Ministry of Finance and the AIIB (Asian Investment and Infrastructure Bank).

An additional R$4 billion will be transferred by the CDB (China Development Bank) to the BNDES (National Bank for Economic and Social Development). The contribution will be used to support projects in the infrastructure area. State development institutions also agreed to transfer R$3.6 billion for investment shares by the Brazilian bank.

BNDES also signed a letter of intent with AIIB to negotiate a new credit line, worth R$1.3 billion.

BB (Banco do Brasil), in turn, signed 2 agreements: a loan of R$2.5 billion with CDB and another R$2.5 billion with Eximbank (Export and Import Bank of China).

There was also the formalization of the transfer of R$5.7 billion from the NDB (New Development Banks), headed by former president Dilma Rousseff (PT), to support the reconstruction of the State of Rio Grande do Sul.

As shown by the Poder360, the other US$ 620 million was already agreed in contracts signed by the institution with the Brazilian government from 2020 to 2022, during Marcos Troyjo’s term as head of the NDB, and was just reallocated. The model adopted for transfers, therefore, predates Dilma’s administration.

The delegation included ministers Rui Costa (Civil House), Simone Tebet (Planning and Budget), Carlos Fávaro (Agriculture), Wellington Dias (Social Development), Márcio França (Entrepreneurship) and Paulo Teixeira (Agrarian Development), and the presidents of ApexBrasil, Jorge Viana, and ABDI (Brazilian Industrial Development Agency), Ricardo Cappelli.


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