Venezuela To Support Farmers Through El Petro

The scandalous president of Venezuela, Nicolas Maduro, issued a statement announcing his intentions to provide small and medium agribusiness with soft loans.

Farmers will receive payments in the national cryptocurrency, the state allocated 650 thousand El Petro coins for this program, which is equivalent to more than 5.5 trillion bolivars or 40 million US dollars.

The government of Nicolas Maduro has been actively developing the national cryptocurrency project for more than two years. For example, at the end of 2019, the President of Venezuela announced that all retired people would receive 0.5 El Petro for Christmas.

Despite all the efforts of the government, the national cryptocurrency did not find the necessary popularity among the country's population. Many sellers don`t want to accept El Petro as a means of payment and prefer bitcoin instead.

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