| China-LAC Cooperation Fund | |
| Type: | Multilateral investment and financing cooperation fund |
| Foundation: | 2015 |
| Location: | 30 Fuxingmennei Street, Xicheng District, Beijing |
| Industry: | Investment Management |
The China-LAC Cooperation Fund (abbreviated CLAC Fund) is a multilateral investment and financing cooperation fund established by the Chinese government. The CLAC Fund is divided into a US$2 billion co-financing facility and US$3 billion investment fund. Both the co-financing facility and fund support investments and projects in Latin America and the Caribbean.[1]
It is one of three multilateral cooperation funds created by the Chinese government to advance the economic relationship between China and Latin America. The other two are Sino-Latin American Production Capacity Cooperation Investment Fund (China-LAC Industrial Cooperation Investment Fund) and the Special Loan Program for China-Latin America Infrastructure Project.[2] [3]
The initial scale of the investment fund is US$3 billion contributed by the Chinese government. The investment fund is administered by the Export-Import Bank of China.[1] The fund has made investments in Brazil and Jamaica. In Brazil the fund was involved in the acquisition of a project from Duke Energy and an investment in Electrosul.[4]
The co-financing fund is funded by a capital contribution of US$2 billion from the Chinese government. It is administered by the Inter-American Development Bank (IDB) to finance alongside lending by the IDB for projects in "education, water conservancy and energy, etc." in Latin America and the Caribbean.[1]