Industrial and Commercial Bank of China Ltd (ICBC), world's largest bank by assets, said on Friday it is not aware of plans to create a $50 billion fund to finance infrastructure investments in Brazil.
Reuters reported that a memorandum of understanding between ICBC and Brazil's Caixa Econômica Federal to create the fund will be announced next week, when Chinese Premier Li Keqiang visits South America.
ICBC highly values the cooperation with Brazilian financial institutions and will actively promote China and Brazil economic collaboration, but the lender was "not aware" of the fund, a spokesman for ICBC said.
