Chavez Frias storms Barquisimeto: communal banks interests at 6%
by Patrick J. O'Donoghue
Venezuelan President Hugo Chavez Frias has visited the city of Barquisimeto in Lara State.
The President chose the popular western barrio of La Caruciena just beyond Barquisimeto's international airport to make his cavalcade/walkabout.
According to a report in the Bolivarian news agency (ABN), the streets were jam-packed with multitudes turning out to see the President.
Other sources have told Vheadline.com that La Caruciena was already a beehive at 9.00 a.m. in the morning. There was music, dancing songs, enthusiasm and happiness to keep spirits up before the President arrived at 2.00 p.m.
Even though the cavalcade was just 2.8 km, 16 stages were erected by political parties and groups that support the President's candidacy.
Representatives from Missions Sucre, Robinson and Vuelvan Caras organized their stands, along with the municipalities of Iribarren, Palavecino, Andres Eloy Blanco, Crespo and Simon Planas and surprisingly, the Syrian colony.
During his visit to the city earlier on, President Chavez Frias has confirmed that people taking credits from communal banks will only have to pay 6% interest annually.
The communal banks are part of the popular power communal councils, currently being set up throughout Venezuela.
Micro-Financing Development Fund (Fondemi) president, Margaut Godoy says the communal banks have handed out 5,677 credits of 9,000 requested for around 30 billion bolivares.
During the ceremony at San Francisco Church in the city center, the President insists that communal banks should be more than just micro-financing organs.
Chavez Frias recalls that before his February 4, 1992 (4F) coup, rebels had established policy regarding popular power and now, he contends, the time for the communities to assume State powers has arrived.
Godoy points out that communal banks have helped organize 200 community financing groups in 33 municipalities of 18 states, involving a total of 1,139 communal councils.
Chavez Frias argues that the project of communal banks is part of Libertador Simon Bolivar's ideal to give power to the people.
Venezuelan President Hugo Chavez Frias has visited the city of Barquisimeto in Lara State.
The President chose the popular western barrio of La Caruciena just beyond Barquisimeto's international airport to make his cavalcade/walkabout.
According to a report in the Bolivarian news agency (ABN), the streets were jam-packed with multitudes turning out to see the President.
Other sources have told Vheadline.com that La Caruciena was already a beehive at 9.00 a.m. in the morning. There was music, dancing songs, enthusiasm and happiness to keep spirits up before the President arrived at 2.00 p.m.
Even though the cavalcade was just 2.8 km, 16 stages were erected by political parties and groups that support the President's candidacy.
Representatives from Missions Sucre, Robinson and Vuelvan Caras organized their stands, along with the municipalities of Iribarren, Palavecino, Andres Eloy Blanco, Crespo and Simon Planas and surprisingly, the Syrian colony.
During his visit to the city earlier on, President Chavez Frias has confirmed that people taking credits from communal banks will only have to pay 6% interest annually.
The communal banks are part of the popular power communal councils, currently being set up throughout Venezuela.
Micro-Financing Development Fund (Fondemi) president, Margaut Godoy says the communal banks have handed out 5,677 credits of 9,000 requested for around 30 billion bolivares.
During the ceremony at San Francisco Church in the city center, the President insists that communal banks should be more than just micro-financing organs.
Chavez Frias recalls that before his February 4, 1992 (4F) coup, rebels had established policy regarding popular power and now, he contends, the time for the communities to assume State powers has arrived.
Godoy points out that communal banks have helped organize 200 community financing groups in 33 municipalities of 18 states, involving a total of 1,139 communal councils.
Chavez Frias argues that the project of communal banks is part of Libertador Simon Bolivar's ideal to give power to the people.
posted by Alice at
Monday, October 16, 2006
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