China Pledges 9.2 Billion in Loans to Latin America as Part of Strengthening Economic Ties
Beijing–During the summit between China and the Community of Latin American and Caribbean States (CELAC), held in Beijing, Chinese President Xi Jinping announced a 9.2 billion loan package to Latin American and Caribbean nations. This move is part of China’s broader effort to deepen economic and political ties with the region under the Belt and Road Initiative.
Weezharoz-In his keynote address, Xi Jinping emphasized that global peace and prosperity can only be achieved through unity and cooperation.
He also subtly criticized hegemonic and coercive policies, which many observers interpreted as a veiled reference to the United States.
The announced funding will be provided in the form of credit lines aimed at supporting development projects across the region, particularly in areas such as infrastructure, trade, investment, and technology.
This initiative aligns with China’s strategic goals of internationalizing its currency and building long-term alliances with nations seeking alternatives to traditional Western financial systems.
Leaders from Latin America and the Caribbean also underscored the importance of enhancing cooperation with China and welcomed President Xi’s proposals for deeper partnership in various sectors.
These developments come amid ongoing trade tensions between China and the U.S., as many Latin American nations look to diversify their economic partnerships and reduce dependency on traditional markets.
Weezharoz
