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Tuesday, September 26 2017 @ 05:11 AM 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

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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