Hugo Chavez Says China Granting Venezuela $4B loan

By: AP
By: AP

CARACAS, Venezuela (AP) -- Venezuelan President Hugo Chavez has
made a brief appearance to announce a big loan from China.

He spoke just hours after the vice president said Chavez is undergoing "rigorous treatment" following cancer surgery.

Chavez said Venezuela will soon receive a $4 billion loan from
China to boost joint development projects between the increasingly
close international allies.

During a Cabinet meeting that was broadcast live on state
television, Chavez said the money will finance projects such as
railways.

He said Venezuela will put $2 billion of its own into the projects.

Chavez gave few details of the agreement.

The live broadcast was suddenly cut when Chavez noted that Venezuela's national soccer team was playing a tight game against Ecuador in the regional Copa America tournament.


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