Venezuela’s president Nicolás Maduro says money will be used for housing, technology, energy and infrastructure projects
China has agreed to invest more than $20bn (£13.2bn) in Venezuela to help it overcome an economic slump exacerbated by plummeting oil prices, the Venezuelan president has announced.
Nicolás Maduro has been in Beijing since Monday to participate in a major meeting between China and the Community of Latin American and Caribbean States (CELAC) – a coalition of 33 countries that was formed in 2011. He announced the $20bn deal after meeting with the Chinese president, Xi Jinping.