China and Brazil look to set up green investment fund, say Lula aides

25/3/2023 7:12

        Brazil and China are in talks to create a fund for financing the development of green industry and renewable energy in both countries, two senior Brazilian officials told Reuters.
        
        The proposal could be announced during President Luiz Inacio Lula da Silva's visit to Beijing next week, although government officials said there were still some details to work out.
        
        "I don't know if it will be possible to announce, because these things are complex, but the idea is to have a bilateral fund ... for investment in this area," Lula's top foreign policy advisor Celso Amorim told Reuters.
        
        Amorim said he expects an agreement on renewable energy during Lula's visit, which includes a meeting with Chinese President Xi Jinping on Tuesday
        
        Brazilian Environment Minister Marina Silva, who will be part of Lula's delegation, said the new fund under discussion would be used to recover forests and develop a more sustainable economy, including production of green hydrogen.