CARACAS - Venezuelan President Hugo Chavez Tuesday signed the Agriculture Sector Assistance Law to condone the debt of farmers affected by torrential rains and floods in 2010.

The relief to the farmers amounted to 44.7 million bolivares ($10.3 million). Chavez made the announcement in a national radio and TV broadcast.

Chavez also announced a strategic alliance with Chinese companies to allow Venezuela to receive technology, credits, machinery and training for national agricultural producers.

The measures announced by Chavez are part of the Enabling Law approved in December 2010 by the National Assembly to deal with the aftermath of the heavy rains.