The $1.2 billion China-Mexico private equity fund managed by a World Bank unit announced that it was investing $140 million in a U.S. backed energy firm, Citla Energy in Mexico.
CCTV America’s Martin Markovits reports.
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China-Mexico private equity fund investing $140 million in energy firmThe investment in Citla Energy shows that Beijing is looking across continents in its quest for energy but it's still got a long way to go.
The investment in Citla Energy shows that Beijing is looking across continents in its quest for energy but it’s still got a long way to go.
Chinese investment in Mexico only accounted for just 0.2 percent of all foreign investment in the country in 2015.
The economic insiders believe this small investment could lead to something much greater in the future.
Officials from the World Bank expect to see a return in their investment in six years and are hoping to create a second Chinese-Mexican fund.
In what they believe is the start of a potentially lucrative economic relationship between the two countries.