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Message: China/VZ $6 Billion Fund
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Bandes accelerates implementation of the Fund's resources China-Venezuelan
Caracas, Oct 17. ABN .- In order to promote social progress and industrial production of the nation, through the implementation of projects of great impact in areas such as mining, housing, roads, energy, health, education and agriculture, the Development Bank Economic and Social Council of Venezuela (band) is pursuing a plan to implement the financial resources that constitute the Chinese Venezuelan Joint Fund (FCCV), comprised of nearly $ 6 billion.
A total of 45 large-scale plans were approved by the President of the Republic, Hugo Chávez, for funding by the FCCV and thus create a solid platform for economic growth throughout the national territory.
As a result, band has begun to undertake actions aimed at facilitating the different requirements requested by ministries and state agencies responsible for converting the financial resources allocated to tangible works for the benefit of the people.
The sector that is receiving the largest share of the amount of investment is related to the expansion and modernization of the fabric of the country road, which includes numerous projects, such as meter Valencia, Maracaibo, Los Teques, Metro Line 5 Caracas and the National Railway System, all under the responsibility of the Ministry of People's Power for Infrastructure.
Secondly, the plans are driven by the Ministry of People's Power for Agriculture and Lands which have 35% of the total amount approved and committed the FCCV. It was followed by the portfolios of Energy and Petroleum, Basic Industries and Mining, Health, Education and Health Planning.
Currently 76.6% of the Fund's resources are committed, the remaining capital is available to the National Executive, which will establish the allocation to new projects for the socio last quarter of 2008.
All projects have been studied taking into account the direct connection with the Plan for Economic and Social Development of the Nation 2007-2013 and sectoral policies and programs that the government Bolivariano.
It was also found employment generation and financial sustainability in communities and the momentum of a new socio-productive sustainable based on fairness and inclusion.
Caracas, Oct 17. ABN .- In order to promote social progress and industrial production of the nation, through the implementation of projects of great impact in areas such as mining, housing, roads, energy, health, education and agriculture, the Development Bank Economic and Social Council of Venezuela (band) is pursuing a plan to implement the financial resources that constitute the Chinese Venezuelan Joint Fund (FCCV), comprised of nearly $ 6 billion.
A total of 45 large-scale plans were approved by the President of the Republic, Hugo Chávez, for funding by the FCCV and thus create a solid platform for economic growth throughout the national territory.
As a result, band has begun to undertake actions aimed at facilitating the different requirements requested by ministries and state agencies responsible for converting the financial resources allocated to tangible works for the benefit of the people.
The sector that is receiving the largest share of the amount of investment is related to the expansion and modernization of the fabric of the country road, which includes numerous projects, such as meter Valencia, Maracaibo, Los Teques, Metro Line 5 Caracas and the National Railway System, all under the responsibility of the Ministry of People's Power for Infrastructure.
Secondly, the plans are driven by the Ministry of People's Power for Agriculture and Lands which have 35% of the total amount approved and committed the FCCV. It was followed by the portfolios of Energy and Petroleum, Basic Industries and Mining, Health, Education and Health Planning.
Currently 76.6% of the Fund's resources are committed, the remaining capital is available to the National Executive, which will establish the allocation to new projects for the socio last quarter of 2008.
All projects have been studied taking into account the direct connection with the Plan for Economic and Social Development of the Nation 2007-2013 and sectoral policies and programs that the government Bolivariano.
It was also found employment generation and financial sustainability in communities and the momentum of a new socio-productive sustainable based on fairness and inclusion.
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