The China-Portuguese-speaking Countries Co-operation and Development Fund will provide US$40 million to fund two projects in Brazil and Cape Verde, Lusa reports.

The Portuguese news agency reports the fund will provide US$20 million towards a US$200-million, 200-megawatt solar-power project in Brazil and US$20 million for a US$300-million hotel project in Cape Verde led by Macao businessman Chow Kam Fai.

The fund’s deputy Director-General, Song Feng, said there were half a dozen projects in the final phase of analysis. The fund has previously approved financing for projects in Angola and Mozambique.

Mr Song made the comments on the sidelines of an event to publicise the work of the fund held in Macao yesterday.

The US$1-billion fund was established in 2013 and its headquarters are to be established in Macao.