China Lends Venezuela $4 Billion to Renew Fund, Chavez Says
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China Development Bank Corp. has deposited $4 billion with a Venezuelan state-run institution as part of the renewal of a bilateral investment fund, President Hugo Chavez said.
Venezuela will add another $2 billion to the fund from its National Development Fund known as Fonden to continue investing in infrastructure projects in the South American country. Venezuela repays the loans to China with oil exports.