» $10 billion spending spree will improve transit in Cordoba and improve branch railway lines. China expects to improve trade relations and open access to natural resources.
Expanding its effort to use infrastructure investments to spread its influence, the Chinese government has agreed to a $10 billion commitment to upgrade a series of intercity rail lines in Argentina and improve urban transit systems in Buenos Aires and Cordoba. Funds come from the China Development Bank and will require a 15% match from the Argentinian government.
This money will not contribute to to the construction of the Buenos Aires-Rosario high-speed line, a separate and currently delayed project.
The effort suggests not only that China is willing and able to contribute its national funds to foreign projects, but also that it intends to structure its investments as an alternative to the World Bank, a grant-making institution that since World War II has