Venezuela’s proposal to form the International Energy Bank

According to the report of the International Economic Group of Fars News Agency, citing Sputnik, Venezuela proposed the creation of an international energy development bank in order to facilitate countries’ access to diverse energy sources in the midst of the global energy crisis.

Tariq Al-Aysmi, the economic vice president of Venezuela and the country’s oil minister, put forward the mentioned proposal at the “Southern Voice” virtual summit hosted by India and said that such a bank would benefit from and support energy diversification projects.

He emphasized: In the first stage of this proposal, the basic needs of the people in terms of access to affordable, safe and reliable energy sources must be met.

Al-Aysmi said: This bank should operate based on the principle of solidarity in the framework of cooperation between southern countries.

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

India, as the current chairman of the Group of 20, is seeking to bring the voice of the developing and marginalized countries to the countries and big powers by holding a virtual meeting with the participation of more than a hundred countries over the past two days.

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