China-CELAC Summit Unveils Cooperation Initiatives and $9B Credit Deal

20 May, 2025

The China-CELAC Summit recently concluded with the announcement of a comprehensive cooperation plan and a $9 billion credit initiative aimed at deepening China’s economic ties with Latin America and the Caribbean. Held in Beijing, the summit gathered foreign ministers and high-level representatives from member states of the Community of Latin American and Caribbean States (CELAC) to discuss collaborative efforts in areas such as infrastructure, energy, digital economy, and sustainable development. Chinese Foreign Minister Wang Yi emphasized the importance of South-South cooperation, positioning the initiative as part of a broader strategy to promote multipolar global governance

During the summit, China unveiled 17 new measures that include expanded trade opportunities, increased cultural and academic exchanges, and financial aid to support green energy projects across the region. The $9 billion credit line is designed to fund strategic development projects, enhance connectivity, and stimulate regional industrial growth. China also reiterated its commitment to supporting CELAC countries through non-interventionist policies, highlighting mutual respect and development partnership over political conditionality

Several Latin American leaders welcomed the announcements, viewing China as a vital economic ally in an increasingly polarized world. They praised the initiatives for fostering economic diversification, improving regional infrastructure, and opening new markets for exports. The summit also reaffirmed China’s Belt and Road Initiative as a key component in shaping future cooperation frameworks, with a strong focus on digital and sustainable growth models

This summit marks a significant step in China-CELAC relations, reinforcing China's role as a principal economic partner for Latin America and the Caribbean. By aligning with the development goals of CELAC countries, the newly announced cooperation strategy and credit program aim to create long-term benefits for both sides while challenging traditional Western-led financial and diplomatic influence in the region

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