Soon afterwards, Venezuelan president Hugo Chávez visited Argentina and proposed a salvage loan to SanCor, partly in order to pay its debt and partly to finance needed investment, in exchange for milk powder and technical advice. The formal agreement was signed on 11 December 2006 between SanCor and the Banco de Desarrollo Económico y Social de Venezuela, an autonomous financial agent of the Venezuelan government. SanCor will not have to cease being a cooperative, as it would have happened with the alternative offers. The total loan will amount to $135 million, of which $80 million will be repaid with exports of powdered milk, while the other $55 million will be employed as work capital.