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Monday, May 29 2017 @ 03:06 PM AST

Venezuela promises US$200 million for PetroCaribe - ALBA fund

The fund, which is used to finance social and economic programs in PetroCaribe-Alba member countries, will receive a US$200 million injection from PetroCaribe, Venezuelan President Nicolas Maduro said on state media today during the IX PetroCaribe Summit 2015.

Also, in 70 days, a high level committee will review and present proposals for a "commercial exchange" for oil, Maduro said in Caracas. For the story in Spanish visit http://noticiaaldia.com/2015/03/madur...n-caracas/

Maduro told Venezuelans the summit approved several "exchange agreements," without specifying items to be exchanged.

Maduro proposed to broaden PetroCaribe to an "Economic Trade Zone."

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