Venezuela

Donor conference on Venezuela begins in Madrid

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Madrid (dpa) - Representatives of around 30 donor countries Monday attended a conference on the reconstruction of Venezuela, where up to 50,000 people were killed and up to 200,000 left homeless by floods in December.

The Madrid conference was staged by Spain and by the Inter-American Development Bank.

Venezuelan President Hugo Chavez thanked ''Spain, Europe and the rest of the world'' for their help.

The state of Vargas alone is estimated to have suffered losses worth 1.7 billion dollars. The Venezuelan private sector estimates that the country will need 20 billion dollars in investments to rebuild itself. dpa st bw

AP-NY-02-21-00 1017EST

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Received by NewsEdge Insight: 02/21/2000 10:17:55

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