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DE RUEHCV #2056 2952136
ZNR UUUUU ZZH
R 222136Z OCT 07
FM AMEMBASSY CARACAS
TO RUEHC/SECSTATE WASHDC 9950
INFO RUEHWH/WESTERN HEMISPHERIC AFFAIRS DIPL POSTS
RUEHBJ/AMEMBASSY BEIJING 0350
RHEHNSC/NSC WASHDC
RUCPDOC/DEPT OF COMMERCE
RULSDMK/DEPT OF TRANSPORTATION
RUMIAAA/HQ USSOUTHCOM MIAMI FL

UNCLAS CARACAS 002056 
 
SIPDIS 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: ECON VE
SUBJECT: CHAVEZ ANNOUNCES CHINESE APPROVAL OF STRATEGIC 
FUND FOR CHINA AND VENEZUELA 
 
 ¶1.  On October 21, 2007 President Chavez announced Chinese 
approval of a USD six billion Strategic Fund between China 
and Venezuela (BRV).  During a phone call from Miraflores 
Palace, 21 October, 2007, to aspirants to the United 
Socialist Party of Venezuela (PSUV) in the State of 
Anzoategui Chavez stated USD 4 billion will be provided by 
China and USD 2 billion from the BRV for "productive 
investment", primarily in Venezuela.  The BRV Vice Minister 
of Finance, Rafael Isea, who recently returned from China, 
explained that the final structure of the Fund would be 
developed through a high-level mixed commission. 
 
¶2.  On a separate issue press reports from October 21 
announced that PDVSA was considering the purchase of 13 oil 
rigs from China by the end of the year. 
 
DUDDY