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Venezuela Approves Terms on $417 Million Loans, AVN Reports

Venezuelan lawmakers approved the conditions of $417 million of loans from Banco Bilbao Vizcaya Argentaria SA and Japan Bank for International Cooperation to finance transportation projects and a steel plant, the state news agency AVN said today on its website.

BBVA will lend Venezuela 162 million euros ($211 million) for a steel plant, while Japan Bank for International Cooperation will lend 17 million yens ($206 million) to finance construction of warehouses for Caracas-Cua train line, according to the state news agency.

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