Venezuela, Russia pledge $4 bln for joint bank

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Venezuela, Russia pledge $4 bln for joint bank
Oluşturulma Tarihi: Kasım 10, 2008 15:11

CARACAS - Venezuela's information ministry said Venezuelan and Russian officials have agreed to create a $4 billion joint development bank to finance gas production, aluminum mining and other projects.

It is not clear how much each country would contribute as oil and gas prices continue to slide, but Venezuelan President Hugo Chavez said his country could tap its foreign currency reserves to bankroll the fund.
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