Iran, Venezuela plan anti-US fund

The oil-rich nations had previously announced plans for a joint $2 billion fund to finance investments in Venezuela and Iran, but Chavez and Ahmadinejad said on Saturday that the money would also be used for projects in friendly third countries.

“It will permit us to underpin investments … above all in those countries whose governments are making efforts to liberate themselves from the (US) imperialist yoke,” said Chavez. “This fund, my brother,” Chavez said referring to Ahmadinejad, “will become a mechanism for liberation. “Death to US imperialism!” he said.

Ahmadinejad called it a “very important” decision that would help promote “joint cooperation in third countries,” especially in Latin American and African countries.

It was not clear if they were referring to investment in infrastructure, social and energy projects — areas that the two countries have focused on — or other types of financing.