China will likely provide Venezuela, which owes Beijing some $19.3 billion, with favorable loan repayment terms, but will not lend Venezuelan President Nicolas Maduro’s government any new funds, Reuters reported March 21. Next month, China will likely extend the grace period created in April 2016, allowing Venezuela to make payments on only the interest from its loans. China’s decision comes amid Venezuela’s worsening political and economic crisis, resulting in an influx of refugees fleeing to neighboring countries in the region.