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Examples
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Venezuela's national development fund, known as Fonden, bought a 49 percent stake in Evrofinance earlier this year.
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Venezuela's national development fund, known as Fonden, bought a 49 percent stake in Evrofinance earlier this year.
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Petroleos de Venezuela SA, the state oil company, may transfer $20 billion this year to an off-budget fund known as Fonden after Chavez announced increases to the country's oil windfall tax law that will take 80 cents of each dollar once oil prices surpass $70 a barrel, Boris Segura, a Nomura Latin America economist in New York, wrote today in the report.
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The bank has transferred $5 billion to an off-budget development fund known as Fonden and is expected to transfer another $2 billion before July.
BusinessWeek.com -- 2010
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The bank has transferred $5 billion to an off-budget development fund known as Fonden and is expected to transfer another $2 billion before July.
BusinessWeek.com -- 2010
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The central bank also said it will transfer $7 billion of reserves to an off-budget fund, known as Fonden, to finance infrastructure projects.
BusinessWeek.com -- 2010
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The bank has transferred $5 billion to an off-budget development fund known as Fonden and is expected to transfer another $2 billion before July.
BusinessWeek.com -- 2010
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The central bank also said it will transfer $7 billion of reserves to an off-budget fund, known as Fonden, to finance infrastructure projects.
BusinessWeek.com -- 2010
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Last month, Economy Minister Jorge Giordani said Fonden had $31.9 billion.
China-Oil Deal Gives Chávez a Leg Up José de Córdoba 2011
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Aside from the Chinese funds, Mr. Chávez can also draw on "excess" dollars from the Central Bank transferred to Fonden, an off-budget special development fund created by Mr. Chávez in 2005.
China-Oil Deal Gives Chávez a Leg Up José de Córdoba 2011
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