[China-Venezuela Joint Fund] [Umbrella] China funds Great Venezuelan Housing Mission (linked to Record ID#58677, 37915, 35908, 63032, 94043, 94037, and 94036)

[China-Venezuela Joint Fund] [Umbrella] China funds Great Venezuelan Housing Mission On April 30, 2011, Hugo Chavez held an opening ceremony for the Great Venezuelan Housing Mission (Spanish: Gran Misión Vivienda Venezuela, GMVV).

This project was actually started in 2005, with oil-backed loans to PDVSA, the Venezuelan state-owned oil company from Industrial and Commercial Bank of China (ICBC) (see Record ID#37915 and 63032).

The project was also financed by the China-Venezuela Joint Fund (see Record ID#58677), the governments of Russian, Belarus, Turkey, and Iran, and FONDEN, a Venezuelan state-owned development fund. In the project's first decade, it is thought to have cost USD 15.5 billion, of which USD 6.934 billion came from PDVSA.

A 2017 estimate suggests that the project had as much as USD 67 billion at its disposal. The project was implemented by as many of 48 entities, including government ministries and foreign companies. Many of the government entities were created and disbanded rapidly as the Venezuelan political system shifted.

One of the key ministries was the Ministry of Housing and Habitat (MHV), which had several other entities under its supervision.

Foreign companies involved in the project included Kayson Company of Iran, CITIC construction of China, Belzarubezhstroy of Belarus, Lena Group of Portugal, Unión Metalúrgica Industrial del Sur, SA (UMISSA) of Uruguay, Essentium of Spain, Summa of Turkey, and Odebrecht of Brazil. The project has been implicated in many corruption scandals.

Several of the companies suepposedley contracted to work on the project did not exist.

There have been investigations in 12 countries (Uruguay, Iran, Portugal, Ecuador, Turkey, Brazil, Italy, the United Kingdom, the British Virgin Islands, Panama, the United States, and Switzerland).

The former Prime Minister of Portugal, José Sócrates, was accused of money laundering and corruption in relation to this project.

At least 11 civil servants appointed by President Hugo Chavez held multiple housing-related positions simultaneously, raising questions as to their ability to provide proper oversight for all of the projects they were overseeing. Many of the projects lack structural integrity or sufficient infrastructure.

Some were built along fault lines and collapsed from earthquakes. Some did not survive Venezuela's intense tropical rains. Others never had gas or electricity lines installed. Many did not have proper water infrastructure, such as water treatment plants, sewer systems, or wells. Others had cracks and leaks in the walls, ceilings, and roofs, and foundations.

List of GMVV Projects: ID#94037: “Turmerito” Housing Development, funded by the China-Venezuela Joint Fund, completed November 27, 2011 ID#94043 "Playa Sola" Housing Development, funded by the China-Venezuela Joint Fund, completed December 27, 2011 ID#94036 "Playa Grande" Housing Development, funded by the China-Venezuela Joint Fund and Turkey, completed 2014 ID#37915: "Fuerte Tiuna" Housing Development, funded by ICBC loan to PDVSA (see Record ID#37915 and 63032) Russia, and Belarus, completed December 27, 2018