CARACAS – Venezuela's acting President Delcy Rodríguez has announced that her government is in advanced negotiations to secure $17 billion in international financing over the next five years, with the funds intended to strengthen domestic production, support private businesses, and stimulate economic recovery.
Rodríguez made the announcement on Tuesday, November 3, during the annual congress of the Venezuelan Confederation of Industrialists (Conindustria) in Caracas, where government officials and business leaders discussed the country's industrial development and investment needs.
The proposed financing package would benefit both public and private enterprises, with particular emphasis on increasing the supply of goods and services to meet an anticipated expansion in domestic demand.
However, the $17 billion remains under negotiation, and no final financing agreement has been announced.
Government Prioritizes Production Over Consumer Spending
During her address, Rodríguez emphasized that the government wants international financing to support productive investment rather than measures designed primarily to stimulate consumption.
She argued that increasing domestic production is essential if Venezuela is to meet growing consumer demand without creating additional pressure on prices and imports.
The acting president said negotiations with multilateral financial institutions are focused on identifying which productive sectors should receive financing.
According to Rodríguez, private businesses must have access to credit to accelerate manufacturing and other economic activities.
She also revealed that Venezuela's Vice President for Economic Affairs, Calixto Ortega, had traveled to an unidentified European country to advance negotiations related to the proposed financing.
The government has not disclosed the identity of the European country, the financial institutions expected to participate, or the terms under which the funds would be provided.
Rodríguez instructed the National Economic Council to establish a technical working group to identify the policies necessary to support increased production.
Venezuela's Industrial Sector Operating Below Capacity
The financing initiative comes as Venezuela seeks to rebuild industrial activity after years of economic contraction, limited investment, and restricted access to international credit.
During the Conindustria gathering, Rodríguez acknowledged that the country's industrial sector is operating at approximately 52% of its installed capacity.
She said expanding production would be essential to improving competitiveness and supporting the country's economic recovery.
The government hopes that additional financing will allow businesses to modernize equipment, expand operations, increase output, and respond to stronger domestic demand.
Rodríguez also outlined broader economic ambitions extending toward 2040 and 2050, indicating that the government intends to present a long-term national economic program.
Inter-American Development Bank Could Play Important Role
The announcement follows renewed engagement between Venezuela and international financial institutions, particularly the Inter-American Development Bank (IDB).
On October 2, representatives of IDB Invest, the private-sector investment arm of the IDB Group, visited Venezuela to discuss potential financing opportunities.
The delegation, led by IDB Invest General Manager James Peter Scriven, met with Venezuelan officials and business representatives to assess financing needs and explore opportunities for supporting economic development.
Venezuela had formally resumed relations with the IDB in June after the institution accepted the appointment of Calixto Ortega as the country's representative.
The renewed relationship could eventually help Venezuela regain access to development financing after years of financial isolation.
However, significant obstacles remain before new loans can be approved and disbursed.
Outstanding $2.5 Billion Debt Complicates Financing Plans
One of the most important challenges facing Venezuela is its outstanding debt to the Inter-American Development Bank.
The country reportedly owes approximately $2.5 billion in overdue payments, which must be addressed through repayment or restructuring before certain new financing arrangements can proceed.
The IDB suspended new lending to Venezuela in 2018 after the country fell behind on its financial obligations.
According to Reuters, Venezuelan authorities have been exploring the possibility of obtaining a bridge loan from Qatar to settle the outstanding debt and restore access to international financing.
The proposal would potentially allow Venezuela to repay its arrears and qualify for new development loans.
However, the arrangement has not been finalized, and the availability of future financing remains subject to negotiations and approval by the relevant institutions.
Venezuela also faces a much broader debt restructuring challenge involving sovereign bonds, obligations of state-owned oil company PDVSA, and other outstanding liabilities.
These financial commitments could complicate the government's efforts to secure large-scale international investment.
Oil Sector Remains Central to Economic Recovery
Alongside the proposed $17 billion financing package, Rodríguez outlined ambitious investment plans for Venezuela's energy industry.
According to the acting president, the government projects approximately $75.6 billion in investment in the hydrocarbons sector between 2026 and 2031.
She also reported that oil production had increased by 8.5% over the previous 12 months, reaching approximately 1.25 million barrels per day.
These figures were presented by the Venezuelan government and have not been independently verified in the announcement.
Rodríguez said the country had signed 80 international agreements related to hydrocarbons, with another 44 negotiations underway.
The government expects increased oil activity to support other sectors, including agriculture, manufacturing, commerce, and metallurgy.
Despite the emphasis on economic diversification, oil remains a central component of Venezuela's recovery strategy.
Financing Package Still Faces Uncertainty
Although Rodríguez described the negotiations as advanced, important details remain unresolved.
The government has not identified all participating financial institutions, announced binding agreements, or provided a timetable for the distribution of the proposed $17 billion.
It is also unclear how much financing would be directed toward government projects and how much would be available to private companies.
The announcement represents another step in Venezuela's efforts to rebuild relations with international lenders following the political changes that began in January 2026, when Nicolás Maduro was removed from power during a United States military operation.
Since then, the Rodríguez administration has pursued negotiations with international financial institutions and foreign investors to support economic recovery.
For Venezuela's business community, access to affordable financing could be important in restoring production capacity and encouraging new investment.
However, the success of the initiative will depend on whether the government can secure formal commitments, resolve outstanding financial obligations, and create conditions that allow businesses to expand production.
For now, the proposed $17 billion package remains a financing objective rather than money already approved or available to Venezuela.