Bank of China boosts presence in Latin America and the Caribbean

Partners with the International Finance Corporation.

IFC, the private sector lending arm of the World Bank Group, said is signed a Memorandum of Understanding with the Bank of China's New York operation that will prompt greater strategic cooperation in the spheres of trade financing, liquidity management and syndicated loans in the Americas.

The areas of collaboration include the participation of the Bank of China-NY in the IFC's syndicated loans in the region, and in specific investments in IFC initiatives, including the IFC's global trade financing program.

IFC Vice President for Latin America and the Caribbean Jean Philippe Prosper, said the last fiscal year was historic for the IFC in Latin America and the Caribbean, and that IFC can achieve much more if it works with partners like Bank of China, which can contribute specialty knowledge and additional capital to the region.