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    China to Allocate $50Bln to Brazil for Infrastructure Projects - Deputy FM

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    China is set to invest $50 billion in new infrastructure projects in Brazil, the country's deputy foreign minister has said.

    MEXICO CITY (Sputnik) – The announcement comes prior to the official visit of China's Prime Minister Li Keqiang to Brazil.

    "There are about $50 billion in new projects. We need to wait till the end of the visit to specify the [exact] figures and what kind of projects it will be," Jose Alfredo Grasa Lima told reporters on Thursday.

    On May 19, Li is due to hold talks with Brazilian President Dilma Rousseff.

    China is one of Brazil's major trading partners and regularly backs the country's initiatives and projects. Over the past 12 years, the trade turnover between the two countries has increased tenfold — from $8.3 billion in 2001 to $83.3 billion in 2013.

    Tags:
    Brazil, investments, infrastructure, Dilma Rousseff, Li Keqiang, China
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