China Offers Venezuela $4B For Joint Fund

China will invest $4 billion into a joint development fund with Venezuela in April 2011,NASDAQreports. Venezuela will add $2 billion to the fund, which was set up between Venezuelan development bank,Bandes, and theChina Development Bank.

Venezuela has repaid the previous two Chinese installments into the bilateral fund, totaling $8 billion. China will have extended Venezuela $28 billion in financing since August, all to be serviced with oil, with the latest loan. Separately, China also offered Venezuela a $20 billion credit line, earmarked for infrastructure projects, housing and agriculture.

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