Venezuela proposes creating int’l energy bank to facilitate access to diverse resources

Venezuela has proposed the creation of an international energy development bank to facilitate countries’ access to diverse energy sources amid the ongoing global energy crisis.

Vice President of the Economic Sector and Oil Minister Tareck El Aissami made the proposal during the virtual Voice of the Global South Summit hosted by India, saying that such a bank would “leverage and sustain projects for energy diversification.”

“In the proposal’s first stage, the basic needs of the people should be met … regarding access to affordable, safe and reliable energy sources,” he noted, adding that the bank should operate under the principle of solidarity within the framework of South-South cooperation.

He welcomed more foreign investment in his oil-rich country, saying: “Venezuela is ready to produce, export, and sign contracts and agreements with all energy companies in the world.” ■

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