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Venezuela and Palestine Launch Bi-National Bank to Fund Tech and Industrial Initiatives

Big financial news out of Caracas this week, as Venezuelan President Nicolas Maduro and Palestinian President Mahmoud Abbas announce an agreement between their two countries to start a bi-national bank. The newly created bank will “fund technological and industrial initiatives” and will launch with 20 million Venezuelan Petros, teleSUR reports.


IMAGE: Presidents Abbas and Maduro shake hands during their meeting on the new banking accord, an expansion to their existing economic partnership. (@NicolasMaduro)

According to teleSUR, since 2009, both countries have several existing accords in place for education, trade, energy, agriculture, culture, communication, sports, defense, security and health.

Maduro told Abbas during the meeting: “the sovereign and free Venezuela is dedicated to the cause of a free, independent, sovereign and peaceful Palestine.”

Abbas thanked Maduro for defending Palestine:

“I’d like to reiterate my thanks to the Venezuelan government and its people for their support of the Palestinian cause.”

Abbas also thanked Maduro for establishing education scholarships in Venezuela for visiting Palestinian students, and for helping build the “Hugo Chavez” eye hospital in Palestine.


IMAGE: Maduro and Trump. The U.S. isn’t going to invade Venezuela, but it’s planning something that could be much worse, writes Andrew Korybko.

21WIRE previously reported back in May of 2017 the US Senate Bill that allotted $20 million in American taxpayer funds toward regime change in Venezuela. It’s new financial developments like this one that can blunt the familiar, ongoing pattern of the West’s marginalization of Venezuela – and continue to help Palestine and its people in the process.

READ MORE VENEZUELA NEWS AT: 21st Century Wire Venezuela Files

READ MORE PALESTINE NEWS AT: 21st Century Wire Palestine Files

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