Caracas, Venezuela

A Honduran mission is visiting the city of Caracas for two weeks to negotiate how the country will pay its debt to “Petrocaribe”.

“We are awaiting the return of our mission to Caracas. The Honduran producers will be the biggest beneficiaries, because we will export to Venezuela products such as milk, cheese and others as payment,” said the Commerce Minister.

Venezuela rules outline that Petrocaribe member countries pay 40% of the oil cost, while the other 60% will go to a trust in order to fund social projects, at an interest rate of 1.0 percent, and payable in 20-25 years.

President Lobo thanked the Venezuelan President Nicolas Maduro for all the support he gave for the reinstament of Honduras to Petrocaribe.