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December 11, 2023

Banks pledge $10B for projects to interconnect South America

Associated Press

SAO PAULO — Four investment banks announced Thursday during a meeting of leaders of the Mercosur trade bloc that they will put $10 billion up for infrastructure works aimed at better connecting South America, including funds for port, airport, road, rail and power transmission projects.

The “Routes for South American Integration” initiative was launched in Rio de Janeiro with host Brazil introducing a plan involving more than 120 projects, many of them in Brazil's north bordering Venezuela, Guyana, French Guyana and Suriname.

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