China gives loan of $5 billion to Venezuela

Venezuela, Dec 29 – Venezuelan President Nicolas Maduro has said that China has given his country $5 billion in credits under a deal reached in September.

 

On Saturday, Maduro said that the money will be used for fields such as housing, transportation, satellite technology and the military.

 

Venezuela's leftist government has received roughly $36 billion from China since 2008, and is paying for it with petroleum exports.

 

Source: AP