China to loan $4-billion to Venezuela in exchange for oil - TopicsExpress

China to loan $4-billion to Venezuela in exchange for oil China will provide Venezuela with a new $4-billion credit line under an agreement signed on Monday, with the money to be repaid by oil shipments from OPEC member Venezuela. The deal was inked during a 24-hour visit to Venezuela by Chinese President Xi Jinping, who is on a tour of Latin America. The money will go into the Joint Chinese-Venezuela Fund, which focuses on infrastructure and economic development in the South American country.

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