The Bloomberg news agency reported that the Cisneros family, represented by Adriana Cisneros, is raising approximately $1 billion in private funds to be invested in Venezuela’s recovery.

The source mentions investing this money in key sectors of the country’s economy, such as “infrastructure, logistics, telecommunications, and energy,” based on the “expectation that the government will begin a wave of privatizations in the short term.”

According to Bloomberg, the Cisneros family would be a key player in this national reconstruction process, contributing part of the capital and joining the other investments currently being managed.

M.Pino

Source: elestimulo

(Reference image source: Aldward Castillo on Unsplash)

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La entrada Cisneros Family to raise private funds for Venezuela’s reconstruction apareció primero en Bitfinance.

An international investment exceeding $40 million is the starting point for the recovery and modernization of Venezuelan paperboard plants, according to announcements by government officials.

This project is being developed jointly by “the Executive Vice Presidency of the Republic, the Ministry of Industry, the Ministry of Labor, and the International Center for Productive Investment (CIIP).”

This investment will allow for the modernization of equipment in Venezuelan paperboard factories, as well as “the incorporation of new technologies, with the aim of guaranteeing job stability and strengthening national production,” states the Ministry of Industry website.

Venezuela seeks to cover domestic demand for paperboard packaging in key sectors such as food, pharmaceuticals, and consumer goods, significantly reducing its dependence on imports.

The project is expected to generate hundreds of new direct and indirect jobs, “contribute to the dynamism of the national industry, and open the possibility of exporting surpluses in the medium term, thus making the paperboard sector a strategic link in the country’s production chain.”

M.Pino

Source: ultimasnoticias

(Reference image source: Luke Heibert on Unsplash)

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La entrada Venezuela to receive over $ 40 million in international investment to revive paperboard factories apareció primero en Bitfinance.

Spain agreed with Cuba on a medium- and long-term Debt Conversion Program of up to €375 million, which will focus on economic growth, as well as social development, investment, and debt relief.

Cuban Minister of Economy, Trade, and Business Carlos Cuerpo traveled to Spain to sign the agreement. He emphasized the importance of this program to “finance sustainable development projects in key sectors such as energy, water, and food security, among others.”

Although this program between Spain and Cuba was agreed upon in 2016, it will be activated in 2025, in line with the multilateral agreement reached within the Paris Club in January.

“This measure represents a significant step in Spain’s commitment to innovative debt relief instruments that are geared toward concrete results and effective cooperation. It is also aligned with the objectives of the 4th International Conference on Financing for Development,” they stated.

It is important to note that these debt conversion programs have the primary objective of boosting economic growth and social development in developing countries “through debt forgiveness and its transformation into high-impact investment projects.”

The funds can be used to finance projects implemented by companies from both countries, and through international organizations and specialized organizations with operational experience in the country.

M.Pino

Source: lamoncloa.gob.es

(Reference image source: Tabrez Syed on Unsplash)

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La entrada Spain agrees on debt conversion program with Cuba apareció primero en Bitfinance.