Russia and Venezuela study the possibility of creating a new international financial institution, that would be the equivalent of the World Bank in more modest version, it indicated Friday the Russian newspaper Kommersant.

Both countries signed in 2010 an agreement on the creation of a bank endowed with a capital of 4 billions of dollars and destined to finance common projects, Kommersant remembered.

According to newspaper, president Venezuelan Hugo Chavez declared Thursday, during meeting that maintained with the Russian chancellor Serguei Lavrov, who the bank, that has a representation in Moscow already, will abrirá other two, one in Caracas and another one in Peking next, Chinese capital.

Sources of the Russian delegation that accompanied to Lavrov in their visit indicated that Venezuela wishes to turn that bank into much more important a financial institution than is at the moment.

“We are studying the possibilities of transforming the bank into international financial institution, to image of the World Bank, but by all means with one more a more modest dimension”, it said one of those sources.

Another one of the members of the delegation indicated that Chávez would be arranged to transfer towards that bank a part of the accounts of the oil company state Venezuelan.

The Russian chancellor met with his homologous one in Caracas four days ago. Photo File