ESPACIO PUBLICITARIO
CARACAS, Monday December 30, 2013 | Update
 
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Venezuela, China sign USD 5 billion loan agreement

The Venezuelan government has received the resources, which are to be managed via the Chinese Fund

Venezuela sells more than 600,000 barrels of oil to China, one of its major economic partners, representing about one quarter of its total crude oil exports (File photo)
EL UNIVERSAL
Monday December 30, 2013  11:44 AM
Venezuelan President Nicolás Maduro announced that China has deposited in the so-called Chinese Fund, created in 2007, USD 5 billion for works related to social and economic development in the South American country.

"Everyone should know that the USD 5 billion tranche of the Chinese Fund we agreed with (Chinese) President Xi Jinping for investment has already been deposited in the Chinese Fund," Maduro said in a televised speech in which he addressed different issues, including the delivery of apartments under the Mission Housing in the states of Miranda, Zulia and the Capital District.

Two other tranches of funding previously approved amounted to USD 6 billion each, including USD 4 billion provided by China and USD 2 billion provided by Venezuela in each case.

Venezuela sells more than 600,000 barrels of oil to China, one of its major economic partners, representing about one quarter of its total crude oil exports.
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