(Belarusian news agency Belapan) - "A visiting Belarusian delegation was told in Caracas that Venezuela was going to contribute 500m dollars to a Belarusian-Venezuelan investment fund that would finance all joint projects, said the Belarusian government's news agency Belta.

The delegation, led by Viktar Sheyman, state secretary of the Security Council, and First Deputy Prime Minister Uladzimir Syamashka, stayed in Venezuela from 9 July through 14 July.

On 14 July, Sheyman and Syamashka, as well as Venezuelan Foreign Minister Nicolás Maduro, signed eight documents aimed at the development of economic cooperation, said Russia 's ITAR-TASS news agency.

The documents reportedly included a protocol of intentions between Petróleos de Venezuela SA and Belarusnafta , Belarus 's state oil company, which provided for the establishment of a joint venture that would deal with oil field rehabilitation. Belarus is also expected to help expand Venezuela 's natural gas supply network and take part in the construction of social housing, roads and other infrastructure facilities in the country.

The government of Venezuela will take additional measures to increase all-round cooperation with Belarus , Minister Maduro reportedly announced on 14 July, following his meeting with Syamashka.

On 7 July, President Alyaksandr Lukashenka signed a presidential edict authorizing Sheyman to act on behalf of the Council of Ministers during the visit".