President Maduro orders state-owned banks to expand financing to the People’s Power

Caracas, November 16, 2022 (Press MinComunas) – On Tuesday, during the launch of the national deployment for the public consultation for the transformation of the laws of the People’s Power, President Nicolas Maduro ordered the national banking system to expand financing to the Communal Power.

From the Miraflores Palace, the Head of State assured that they will sit down to talk with the bankers to evaluate “why the financing does not arrive, why the agreements have not complied. That is our responsibility. It is the responsibility of the government. It is the responsibility of the public banks, and I do not know if it is the responsibility of the private banks. If so, we will sit down to talk”.

In this context, President Maduro informed that they scheduled a meeting led by Minister of the Presidency, Jorge Márquez. Presidents of Banco de Venezuela, Banco Bicentenario, and Banco del Tesoro, the People’s Power Minister for the Communes and Social Movements, Jorge Arreaza, deputies and representatives of the People’s Power, attending to diagnose why they have failed in the financing of the Communal Power of the country and the economic projects of the Communal Councils and the Communes.

“We are going to twist the arms that have to be twisted and to cut the heads that have to be cut because the Communal Power has to be at the forefront and be first in everything,” he emphasized.

The President pointed out that all the resources and competencies must go to the People’s Power since it is not only a matter of making reforms but of applying the third R to revolutionize the public policies to transfer the competencies to the People’s and Communal Power.

He added that laws must be changed and adapted according to: “The experience lived by the people and with that experience daily, to turn it into a law.”

He concluded by explaining that it is time to build a new diversified economic base, to develop the productive forces that generate goods, services, and wealth, and to create a communal, popular, social, socialist, and powerful base of production.

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