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About: Foreign aid to Venezuela     Goto   Sponge   NotDistinct   Permalink

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Because of its abundant natural resources, there was little need for foreign aid to Venezuela until it was hit by an economic crisis in 1989. From 1994 to 2002, the European Union (EU) committed €130 million. European aid is focusing on technical and financial cooperation projects in the areas of education, health, prison conditions, regional development, environment, and the fight against narcotics. A total of €63.8 million has been earmarked for Venezuela for the period 2000–2006 for technical and financial co-operation and rehabilitation and reconstruction.