UN General Assembly
1960

169. The vast transformation of Venezuelan rural life which that Act implies will be accomplished without violating the legitimate rights of third parties. Nor have we forgotten that agrarian reform means much more than merely a redistribution of land; it also means credit and economic assistance to farmers, rural schools, rural electrification, rural road systems, promotion of agricultural co-operatives and the modernization of agriculture. In the next four years, Venezuela intends to invest 2.5 million million bolivares, that is, about $800 million in this vast agrarian reform. We believe that this relatively substantial investment is fully justified from the social and economic point of view. Large masses of Venezuelan peasants will for the first time enjoy the advantages of civilized living and the introduction of mechanization and a rationalization of the land tenure system will greatly stimulate agricultural production.