China Development Bank and Macau Industrial and Commercial Development Fund invest USD $1 billion into China-Portuguese Cooperation and Development Fund

China Development Bank and Macau Industrial and Commercial Development Fund invest USD $1 billion into China-Portuguese Cooperation and Development Fund in 2013 The China-Portuguese Cooperation and Development Fund (also referred to as the China-Portuguese Fund) is one of the six measures to promote cooperation between China and Portuguese-speaking countries announced by the Chinese government at the third ministerial meeting of the China-Portuguese-speaking Countries Economic and Trade Cooperation Forum in November 2010.

On June 26th, 2013, the Sino-Portuguese Cooperation and Development Fund was formally established, with a total scale of 1 billion US dollars, jointly funded by the China Development Bank and the Macau Industrial and Commercial Development Fund, and entrusted to manage by the China-Africa Development Fund.

The fund’s initial capital stands at 125 million US dollars, with 50 million US dollars coming from the Industrial and Commercial Development Fund of Macao.

In order to implement the 19 measures to benefit Macao announced by Premier Li Keqiang in 2016, on June 1st 2017, Sino-Portuguese Fund established the Macao headquarters to help Macao integrate into the overall development of the "Belt and Road" and the Guangdong-Hong Kong-Macao Greater Bay Area.

The permanent location of the headquarters is the Service Platform Complex for Trade Co-operation between China and Portuguese-speaking Countries. A promotion conference was held for the fund on October 12th, 2017 to promote investment cooperation.

Up to now, the China-Portuguese Fund has invested in multiple projects in agriculture, manufacturing, infrastructure, and finance, covering four Portuguese-speaking regions including Brazil, Portugal, Angola, Mozambique, Cape Verde, Guinea-Bissau, East Timor, Sao Tome and Principe, and China and has accumulatively led China to invest more than 4 billion in Portuguese-speaking countries Dollar.

There are more than 20 reserve projects covering most Portuguese-speaking countries.

Projects the fund has invested in include a donation of rice to Mozambique for disaster relief (see Record ID#100507), Brazilian solar power projects (see Record ID#100513, #100514) and the Brazilian São Simão Hydropower Station (see Record ID#60193).