BEIJING: President Xi Jinping vowed on Tuesday to boost China’s footprint in Latin America and the Caribbean with a new $9 billion credit line and fresh infrastructure investment, although Brazil warned the region not to become overly reliant on foreign funding.

The world’s second-largest economy will disburse 66 billion yuan ($9.18 billion) in credit to the Community of Latin American and Caribbean States’ (CELAC) members, Xi told delegates from around 30 nations gathered in Beijing for the three-yearly China-CELAC Forum Ministerial Meeting.

“China and the countries of Latin America and the Caribbean are important members of the Global South. Independence is our glorious tradition, development and revitalisation our natural right, and fairness and justice our common pursuit,” Xi said.

Xi promised leaders including........

© Dawn Business