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Venezuela : PDVSA and Venezuela Bank sign agreement for financing CREDIALIANZA contractors

Publish Date : 09-May-2016

People's Power Minister of Petroleum and Mining and president of Petroleos de Venezuela, S.A. (PDVSA), Eulogio Del Pino, and the president of Banco de Venezuela, Rodolfo Marco Torres signed an agreement for the activation of a mechanism that will facilitate the financing in bolivars national companies committed to related and strategic activities associated with the industry hydrocarbons.

The agreement had the momentum of the Executive Directorate of the National Conglomerate Industrial Petrolero, organization of PDVSA responsible for articulating the opportunities presented by the demand for goods, works and services for the oil industry, gas, petrochemical and mining with the available supply and potential of the national productive sector.

This instrument offered by the Bank of Venezuela under the financial product called CREDIALIANZA, will operate through the program of transfer of credit for contractors PDVSA subsidiaries and joint ventures for the acquisition of goods, services and execution of works in operations , programs and core projects industry.

Its benefits include the optimization of procurement processes PDVSA and strengthening national capacity; while allowing companies to obtain timely financing. You will start to be used in contracts associated with plant shutdowns planned by the National Refining circuit, with the vision to extend it to other businesses, affiliates and organizations that require it.

The Executive Director of the National Oil Industrial Cluster, as coordinating body, will be responsible for monitoring the progress of this mechanism, which will allow companies to meet their working capital needs and efficiently meet its commitments.

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