Suriname to get fuel under Petrocaribe deal

PARAMARIBO, Suriname, Monday November 29, 2010 – Venezuela has agreed to supply fuel to Suriname under the Petrocaribe deal that several other Caribbean Community (CARICOM) member states currently benefit from.

President Hugo Chavez gave the commitment to his Surinamese counterpart Desi Bouterse during the just ended summit of the Union of South American Nations (UNASUR) in Guyana.

It’s one of four deals the two countries are cooperating on.

Chavez also agreed that his country would assist Suriname on housing projects and rice farming, and send urea for fertilizer.

The Venezuelan leader spoke highly of Bouterse and urged the people of Suriname to support him.

“The Venezuelan people and my government support him,” he said.

Petrocaribe, launched in 2005, allows countries to buy up to 185,000 barrels of oil per day on preferential terms. 

Under the agreement, countries only have to pay some of the cost up front, while the remainder can be paid through a 25-year financing agreement on one percent interest. It also allows for nations to pay part of the cost with other products, such as bananas, rice, and sugar. 

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