China and Brazil have agreed to set up a US$20-billion Brazil-China Cooperation Fund (BCCF) that will fund P3 infrastructure projects in Brazil. Two Brazilian state banks will manage the funds, Caixa Federal and Banco Nacional de Desenvolvimento Economico e Social (BNDES). BCCF is looking primarily for transportation and energy projects.

Chinese Cooperation Fund for Investment (CCFLA) will inject US$15 billion into BCCF. The other US$5 billion will come from the Brazilian government. A six-member committee with representatives from CCFLA and Brazilian banks will review applications for project funding that have been graded by a technical committee.