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China agrees to loan Venezuela $4 billion
Edited by : AL CIRCLE
1 min read
China has agreed to a new $4 billion loan to help Venezuela boost its oil output and will also help upgrade power plants and increase production of iron and aluminium.
China has swiftly become Venezuela's biggest foreign lender in recent years, and has previously agreed to more than $32 billion in loans. President Hugo Chavez's government is repaying the loans with oil shipments.
China has swiftly become Venezuela's biggest foreign lender in recent years, and has previously agreed to more than $32 billion in loans. President Hugo Chavez's government is repaying the loans with oil shipments.
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