Venezuelan President Nicolás Maduro announced Thursday that China has agreed to invest more than US$20 billion in his country to aid it in overcoming an economic slump brought on by plummeting oil prices, The Guardian reported. Maduro, who made the announcement following a meeting with Chinese President Xi Jinping, has been in Beijing since Monday to participate in a major meeting between China and the 33-country Community of Latin American and Caribbean States. The Venezuelan president did not give further details, and it remains unclear whether the sum represents a new arrangement or is part of pre-existing oil-for-loans deals. Xi said on Thursday China would invest US$250 billion in Latin American countries over the next decade.
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