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Venezuela receives $5 BN credit line from China

Montecresto

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Visiting Venezuelan President Nicolas Maduro met his Chinese counterpart Xi Jinping on Sunday, and said Beijing has granted his country a $5 billion credit line.

Maduro, vowing to strengthen the partnership established by his late predecessor Hugo Chavez, used his Twitter account to announce what he called "excellent news" for his country.

"We reached an agreement (with the state-owned China Development Bank) on a $5 billion line of credit for development," he wrote.

"With this line of credit we will pay for homes, and invest in agriculture, transportation, industry, roads, electricity, mining, health, science and technology."

http://www.breitbart.com/system/wire/CNG---4832187725a643426db4444db90b9a16---6f1
 

clownboy

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Damn the Chinese are smart. They've also gone into owning significant stakes in Canada's natural resources.
 

notquiteright

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Sneaky Chinese-
without spending trillions in money they don't got or thousands of lives they are securing their oil supplies, approx 640,000 barrels of oil a day from Ven.

Venezuela is having a banner post Chavez period. 2B from Chevron, 1B from Schumberger, 4B from Russia....

According to Faux Noise China has loaned Ven approx 36B that gets paid back in oil and access to resources.

And for all our huffing and puffing, Venezuela is one of our biggest suppliers of oil. I wonder for how long?
 

RDS

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Got to be shrewd when it comes to oil diplomacy.
 

Montecresto

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Sneaky Chinese-
without spending trillions in money they don't got or thousands of lives they are securing their oil supplies, approx 640,000 barrels of oil a day from Ven.

Venezuela is having a banner post Chavez period. 2B from Chevron, 1B from Schumberger, 4B from Russia....

According to Faux Noise China has loaned Ven approx 36B that gets paid back in oil and access to resources.

And for all our huffing and puffing, Venezuela is one of our biggest suppliers of oil. I wonder for how long?

Not sneaky. Smart, and FAR more human than some others go about it. And the upside, as the president tweeted out to his citizens, I've got great news for you guys, we've got infrastructure money and your quality of life is going to improve. We borrow money from China and spend it killing people and destroying infrastructure.
 
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