China grants U.S. $ 20 billion as part of Mega-Financing for Venezuela


VTV




Venezuela agreed to grant China a large financing and long term, whereby the Bolivarian government in the first stage receive 20 billion dollars earmarked to finance various development projects in the country.

"China in 60 years, had never agreed to a financing of this volume to a country in the world," said President Chávez from Miraflores, with the Chinese delegation arrived in Caracas on behalf of President Hu Jintao, who had suspending official visit by the recent earthquake that devastated their nation.

"China will provide funding to the people and the Revolution in a first installment of this long-term and volume of U.S. $ 20 billion agreed (...) based on three principles: one is gradual, two scientific planning, and three common interest, "said the Venezuelan leader.

The president stated that this funding mechanism is a historic news for Venezuela, which is totally separate from the Fund additional Heavy China-Venezuela joint (where both countries have injected more than 12 billion dollars for various works in Venezuela) .

"It's another thing, larger even than the Heavy Fund. We could say that if that is heavy, this is Super-Heavy," said President Chavez, thanking the Chinese Government's decision, the Minister Zhang Guobao, head of the National Energy Resources Administration of China, who topped the Asian delegation present at the palace.

The Venezuelan leader said that before this unusual funding mechanism to Venezuela, could only give a political interpretation of its meaning: Confidence.

"We know that when we take this commitment, both governments and republics and their respective political systems here to stay. We are assuming with great fullness and great confidence. We appreciate the confidence," he said, adding that bilateral newest tool will help pave the way other mechanisms not only Venezuela, but Latin American and Caribbean countries.

Financing without unfair conditions:

In reporting the historic agreement, President Chávez highlighted the differences between the mechanism agreed upon by the Chinese Government and the alleged "loans" given to Venezuela in the recent past.

"Emissaries of the IMF came here to sign funding agreements, none of these amounts, but modest, but we are indebted to unfair conditions and high interest rates, which change without notice." "In policy terms, legal conditions, requirement to change laws, for example to eliminate benefits for workers, freeze wages, demands for privatization of basic and strategic: the handover of sovereignty, then!"

He stressed that this was so because the IMF was an arm of U.S. imperialism, to subdue the peoples of Latin America.

"China, it must be said, even said the slightest word that comes close to this ignominy imposed on this continent, the International Monetary Fund (IMF) and Inter-American Development Bank (IDB) to secure its hegemony and exploitation these lands. "

"That's why we say THANKS! Of heart, the Chinese government, the Chinese people, the Communist Party of China and the PRC."

Chávez stressed that the peoples of Latin America were crushed in recent centuries. "Today we started a new story: there is a resurrection in place of you (...) This visit is part of the 200th anniversary of the start of Independence has not ended but we are determined to conclude in this century."

"! How China has helped us, how we help and we are confident that we will continue to help!" Said the Venezuelan president.

"China is giving demonstration to the world, I believe, that will be the first world power. And that's good for the world, because it has been making great power, as it is without running over anyone, without invading anyone , without blocking anyone, without trampling people and impose unfair conditions: without violating the sovereignty of peoples. "

Venezuela will become the fourth supplier of oil to China:


President Chávez's announcement was made after the signing of bilateral cooperation agreements signed Saturday in Miraflores, Venezuela and the high-level Chinese delegation, and which includes the creation of a joint venture to exploit Block 4 of the Girdle Orinoco, the construction of four super oil tankers with a capacity of 2 million barrels each, the construction of refineries and increasing the supply of Venezuelan oil to turn the country into the fourth supplier of energy in the PRC.

Framed in the agreements signed, the Head of State announced that China will have a secure and diversified supply of Venezuelan oil for its vigorous growth, for which it is delivering more than 400 thousand barrels a day to go raising export to the proposed goal of one million barrels per day.

"We say it with modesty, much oil as China need to grow and consolidate as much power and further improve the living conditions of its population, is here, not just oil, iron also."

Relations with China extending from the underground to outer space, and in all fields, said President Chavez. "We will fulfill our commitments to the last day and beyond," promised the Asian delegation.

Zhang Guobao For his part, Minister of Energy National Administration of China, expressed his admiration for President Chavez, and on behalf of President Hu Jintao expressed his great confidence in the Government and people of Venezuela.

"President Hu Jintao has great expectations for the official visit to Venezuela," reportedly to apologize for the suspension of travel by the earthquake and the promise of reprogramming.

"The agreements signed today are a sign that China and Venezuela have confidence and interest in closer cooperation. The documents are of great importance and include 60 billion yuan, equivalent to 20 billion dollars and our (...) task is to carry out these agreements to increase to a higher level of China-Venezuela strategic alliance. "

Senior Chinese official reiterated that his country has the desire to deepen bilateral cooperation, saying that this partnership will be extended beyond doubt.


Source: http://vtv.gob.ve/noticias-econ% C3% B3micas/33971

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