FOGADE hands in plots to the State for housing works

Caracas, 16 May. AVN .- Venezuelan President Hugo Chavez authorized the Banks Deposit Guarantee Fund (FOGADE, Spanish abbreviation) to transfer to the State 78 plots which embrace 129,053 square meters -about 12 hectares-, in central state Carabobo.

The President said the information last Sunday through a telephone call with a local television station, which broadcast a program about the five aspects of the social project Gran Mision Vivienda Venezuela (or Grand Housing Mission Venezuela).

The board of directors of the fund has been asked to submit a report of all lands and buildings it obtained after the banking crisis occurred during past years, whose liquidation processes have not concluded yet.

In this connection, President Chavez also authorized the compulsory purchase of 82,000 square meters, embracing approximately 80 hectares -232 lots of lands- in the same area.

The owner of one of these lands is still the former National Discount Bank, which broke many years ago but has not still been liquidated.

“For these cases, compulsory purchase is the formula proposed by the FOGADE President, David Alastre. So, I took these measures to contribute with urban development by means of the Grand Housing Mission Venezuela,” Chavez said.


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