Venuezuela and China governments agree to double investment fund

Venuezuela and China governments agree to double investment fund

by CW India Staff on Mar 1, 2009

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The governments of Venezuela and China have agreed to double a bilateral investment fund to US$12 billion intended to finance farming, education, infrastructure, mining and health projects in the Latin American country.

Venezuelan President Hugo Chávez announced that both governments agreed on the increase of the bi-national fund as “part of the strategic alliance” forged by both countries. Chávez said China will contribute US$8 billion, while Venezuela will inject US$4 billion. He added that the government has committed US$4 billion for the fund to finance 41 farming, education, infrastructure, mining and health projects in Venezuela.

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