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Bank of China in pact to expand infrastructure, trade finance in Latin America |
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09:22, June 20, 2009 |
The Bank of China (BOC), the nation's third-largest bank by market value, will expand services in Latin America through a new deal with the Inter-American Development Bank, the BOC said on its website Friday.
The two banks will increase support for infrastructure and high-tech projects, as well as private business.
The two banks also agreed to increase funding for trade finance.
China is the largest trading partner for Latin America. Last year, bilateral trade rose 40 percent to a record 143.3 billion U.S. dollars.
Source: Xinhua
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