Venezuela will get a new $1.5 billion Japanese loan for expansion of its two oil refineries, Reuters reports. The 15 year loan will be provided by the Japan Bank for International Cooperation (JBIC), eight other banks and two companies.
The proceeds will be used to boost capacity of Venezuela state oil company PdVSA’s refineries. Separately, PdVSA will also reopen its 2022 bond in a private operation with the central bank.
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