China offer oil loan to Brazil
China has offered Brazil a lucrative multi-billion dollar loan for future oil exploration, it has been reported.
The Chinese government has proposed the $10 billion (£6.75 billion) loan to state-owner oil giant Petrobras for its future oil exploration in the pre-salt layer off the Brazilian coast.
Mines and energy minister Edison Lobao made the announcement in an interview with the Folha de Sao Paulo newspaper, according to Associated press.
Brazilian property investors could be interested to hear the news which suggests the Latin American country is set to enjoy a period of sustained economic buoyancy.
"Lobao said Chinese officials contacted his ministry to propose a loan and Petrobras then negotiated directly with the Chinese. He gave no details on the status of talks, and any deal would have to be approved by his ministry," the news agency added.
Meanwhile, the Brazil Magazine reported last week that US-firm Monsanto has purchased Aly Participacoes, which operates sugarcane breeding in the South American nation.
