[citation needed] This Cuba–Venezuela Agreement,[7] signed on 14 December 2004, by Presidents Chávez and Fidel Castro, was aimed at the exchange of medical and educational resources and petroleum between the two nations.

[17] In December 2014, Grenada and Saint Kitts and Nevis were accepted as full members during the 13th Summit of the Alliance, which occurred in Havana, Cuba.

President of Venezuela Hugo Chávez announced "The sucre [is] an autonomous and sovereign monetary system that will be agreed upon today so that it can be implemented in 2010.

The initiative has provided the Caribbean member states with important hydrocarbon resources, which many do not possess on their territories, in exchange for services and goods.

[44]: 294 Launched in 2005, TeleSUR is a media network that provides news and current affairs broadcasts throughout the ALBA bloc.

PETROSUR is an inter-governmental energy alliance between Venezuelan PDVSA, Argentinean YPF, and Brazilian Petrobras nationalized oil companies.

[citation needed] In July 2018, President Lenín Moreno of Ecuador distanced himself from ALBA, stating that the organization "has not worked for a while.

[citation needed] Karen Longaric, appointed as foreign minister by Jeanine Áñez's interim government, announced the formal departure of the country from ALBA in November 2019 over "interference" in Bolivia's political crisis.