China delivers four billion dollars to fund with Venezuela
Friday, September 17, 2010

September 17, 2010, 14:53 Caracas, Sep 17 (Prensa Latina) China Development Bank
deposited four billion dollars to boost the development of works in Venezuela
through the scheme Financing Long-Term Large Volume, reported the President Hugo
Chavez.

During an event with the socialist campaign headquarters for the upcoming
legislative elections, Chávez acknowledged the support of the Asian nation, and
stressed that this money should go to specific projects, not to feed a parasitic
bureaucracy.

The president also spoke about a loan of 10 billion dollars offered by Chinese
banks to their country.

He described this gesture as something important, not only for investment but
because it allows the government, through changes of these currencies to Bs,
increase international reserves.

Another credit to Venezuela would give 70 billion yuan to purchase Chinese goods
in that country.

In that sense, the president recalled a program for household appliances
equipped with disadvantaged Venezuela, which began to bring refrigerators, gas
stoves and other items of that nation.

Clarified that the yuan also allow you to mount appliance factories in
Venezuela, and acquire the technology.

Any such financing will be very important for government works, "said the head
of state.

The day before the National Assembly passed a bill to authorize and regulate
such funding, which will reach 20 billion dollars through periodic disbursements
in the coming years.


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