China to announce in Macau conditions for access to line of credit for Portuguese-speaking countries

21 March 2012

The deputy director of the China Development Bank is due to be in Macau on 27 March to announce the mechanisms for access to the US$1 billion fund to promote cooperation between China and the Portuguese-speaking countries, the Macau press reported.

The session, which will be open to guests and will be attended by a deputy Trade Minister from China, will announce the details and access regulations governing access to the fund, which was announced by China’s Prime Minister Wen Jiabao when he headed up the 3rd ministerial meeting of the Forum for Economic and Trade Cooperation between China and the Portuguese-Speaking Countries in November, 2010.

Speaking recently, Chang Hexi, the secretary-general of Forum Macau said that the fund mainly served to, “support Chinese companies and those from forum member nations in projects put in place in Portuguese-speaking countries.”

On 28 and 29 March the permanent secretariat of Forum Macau is due to meet to approve the plan of action for 2012, and will be held with the participation of ambassadors from Portuguese-speaking countries to China.