Venezuela and Brazil in loan talks

The Venezuelan government is in talks with Brazil’s national development bank for loans that could reach $4.3bn (€3bn).

A spokesman with the National Development Bank said the loans would be mainly for infrastructure and industries.

Paulo Braga said bank president Luciano Coutinho met with Venezuelan President Hugo Chavez this week to discuss the possible loans. Mr Coutinho’s visit came ahead of Chavez’ trip to Brazil next week.