News Column

Brazil,China : CHINA's EXIMBANK extends US$ 5 billion credit line to BRAZIL's VALE

July 19, 2014

Brazil iron ore producer Vale has secured US$ 5 billion credit line from China s Eximbank to buy or lease ships and shipping equipment from Chinese companies.

A meeting was held between Brazi s president, Ms Dilma Rousseff, and China s leader, Mr Xi Jinping, during which the financing was finalised.

Among many issues, one of the issues Brazil was in efforts to solve with China was an impasse over China's refusal to allow giant bulk iron ore carriers used by Vale to dock at Chinese ports.

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Source: TendersInfo (India)

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