Chinese President Xi Jinping, left, shakes hands with Colombia's President Gustavo Petro after delivering his opening speech for the opening ceremony of the Fourth Ministerial Meeting of the Forum of China and Community of Latin American and Caribbean States at China National Convention Center in Beijing, Tuesday, May 13, 2025. The multilateral lender was set up a decade ago as a project of Brazil, Russia, India, China and South Africa — the so-called BRICS nations of major developing markets — as a counter to U.S.-dominated institutions like the World Bank and Inter-American Development Bank. He said that he was especially excited by the possibility of securing the New Development Bank's support for a 120-kilometer (75-mile) canal, or railway, connecting Colombia's Atlantic and Pacific Ocean coastlines that he said would position the country at the “heart” of trade between South America and Asia.
Author: Joshua Goodman
Published at: 2025-05-17 22:00:42
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