China has announced that it has secured around $100 billion from at least five state funds for a new investment programme in Brazil, mainly for infrastructure construction, during meetings held in Brasilia last week – Brazilian media report.
Figures from the Brazil-China Business Council show that Chinese investments in Brazil over the past decade have reached $57 billion in 145 projects across 21 states and the Federal District.
Most of these investments took place from 2017 onward, under then-President Michel Temer’s Government concessions and privatisation programme, with Chinese groups consolidating their presence in the electricity sector by acquiring producers, distributors and transmission lines.