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China bank funds Argentina development

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China bank funds Argentina development

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Argentina has agreed to borrow around 6 billion euros from China to build hydroelectric dams in the Patagonia region.

The loan from the China Development Bank will also fund a long-delayed railway project in Argentina.

The two countries signed a similar deal in 2009.

China is Argentina’s second-largest trading partner after neighbouring Brazil.

Argentina is the world’s third-largest exporter of soy and corn. China is the mail buyer of its soy beans.