In the context of the 50th anniversary of relations between Brazil and the People's Republic of China, Vice President Geraldo Alckmin, head of the Ministry of Development, Industry, Trade and Services (MDIC), met with the Chinese leader, Xi Jinping, on June 7 in Beijing. They took part in the signing ceremony of agreements for R$24.6 billion in credit concessions to Brazil, to be invested in infrastructure, including work to recover the damage caused by the floods in Rio Grande do Sul.

One of the partnerships was a memorandum of understanding signed between the Ministry of Finance and the Asian Investment and Infrastructure Bank (AIIB) guaranteeing R$5 billion in emergency support for Rio Grande do Sul. 

The China Development Bank (CBD) will lend R$4 billion to the National Bank for Economic and Social Development (BNDES). This is earmarked for ecological projects aimed at climate change. Another R$3.6 billion from the CBD will be used to increase the BNDES' capacity to invest in the Brazilian economy.

(Source: PT no Senado, on June 13)