PetroCaribe projects face unsure future
Apr 02, 2013
KINGSTON, Jamaica - With looming uncertainty over the PetroCaribe Energy Cooperation Agreement, following the death of Venezuelan President Hugo Chávez, there is concern that the future of the projects under the cash-rich PetroCaribe Development Fund (PDF) is also unsure.
With an asset base of $241.2 billion up to January 2013, the PDF was set up in 2006 to undertake a number of national projects.
"There are several projects currently being undertaken by the PDF broken down into two headings: grants and loans," said Dr Wesley Hughes, newly appointed chief executive officer of the PDF.
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