Argentina to boost SMBs with Chinese financing

Argentina plans to boost small and medium-size businesses (SMBs) with Chinese financial cooperation, state daily Telam said on Sunday.

The $150 million development agreement was struck between Argentina's Investment and Foreign Trade Bank (BICE) and the China Development Bank (CDB).

"The financing agreement reached with the CDB is very important, since accords with international agencies allow us to offer loans with very beneficial terms to Argentina's SMBs," BICE's president, Pablo garcia, said in a statement.

The financing will be provided in parts, with an initial outlay of $50 million, and will be earmarked to help small and medium-scale enterprises in the fields of renewable energy, energy infrastructure and agricultural manufacturing, among others, Telam said.

The agreement between BICE and the CDB is not solely financial, comprising also "cooperation between the two institutions to promote good international practices and to strengthen ties between Argentine and Asian companies," the agency said. (17 April 2017)

Disclaimer
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of content received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.
Top