Nicolás Maduro, the embattled president of the oil-dependent nation, said on Sunday, Venezuela has received $5bn in new financing from China, writes the FT's Andres Schipani in Caracas.
"With the alliance with China, we just received $5bn of financing for development, $5bn more has just came in," Maduro said on Sunday afternoon. "We are working on other tranches, I will inform you when they arrive."
China is Venezuela's biggest creditor. Chinese state entities have lent more than $50bn since 2007, about $20bn of which is thought to be outstanding. A big chunk of that is repaid in oil shipments.
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