Venezuela negotiates EUR 15.1 billion for productive sectors

A interim president of Venezuela, Delcy Rodríguez, said Tuesday that his government is negotiating with multilateral bodies a financing of 17 billion dollars (EUR 15.1 billion).

The aim of this funding is to support the public and private sectors of the country in the next five years, according to Delcy Rodriguez.

“ We are sitting with multilaterals deciding which sector of the productive area should receive funding, we do not want to give funding to consumer experiences, we want to give funding to production initiatives ", said the ruler at the annual Congress of the Venezuelan Confederation of Industrials (Conindustrial).

The interim President stressed that it is important that funding reaches the private sector to accelerate the “productive processes”. ” Because we have to look to the future and, when we look to the future, we will need a lot of offer”, he added.

On October 2, a delegation from the IDB Invest, an investment arm in the private sector of the Inter-American Development Bank (IDB) group, visited Venezuela to evaluate financing plans for the public and private sectors, the interim president said.

Delcy Rodríguez did not detail the conditions of this credit, but ensured that it was a “very advanced” process.

The general director of IDB Invest, James Peter Scriven, said at that time that the purpose of his visit was to share the capacity of the institution that runs and listen to Venezuelan entrepreneurs to understand their needs.

Relations with the IDB were resumed on June 24, after accepting the appointment of Calixto Ortega as new governor in Caracas before the entity.

Venezuela still maintains an accumulated debt of about $2,500 million with the IDB, a value that should begin to be repaid or restructured before Caracas can access new funding lines.