World Bank delegation visits Venezuela

World Bank delegation visits Venezuela

CARACAS
World Bank delegation visits Venezuela

A team of World Bank experts last week visited Venezuela for the first time since the South American country and the Washington-based bank renewed relations in April, the bank said in a statement.

The bank's vice president for Latin America and the Caribbean, Susana Cordeiro Guerra, led a delegation that met with interim leader Delcy Rodriguez and her economic team, the statement said.

"The discussions, held in a cordial and constructive atmosphere, allowed both parties to exchange views on Venezuela's recent economic developments and explore possible areas of collaboration on technical assistance," the World Bank said.

Both sides "agreed to continue working together to define concrete areas of technical collaboration for the benefit of the economic and social development of the Venezuelan people," it added.

The renewal of relations between Caracas, the World Bank and the International Monetary Fund, which had been frozen since 2019, has opened the door to possible financial support for Venezuela, if the government asks for it.

Venezuela has the world's largest proven crude oil reserves, but its infrastructure is dilapidated.

Increased exchanges between global financial institutions and Venezuelan leaders could reassure investors who are hesitant to commit funds to the fledgling government.