The lawmaking body, which is closely allied with Chavez, said in a statement on its Web site Thursday that it approved $20 million for two Glover productions.
They include "The General in His Labyrinth," which deals with the life of South American liberator Simon Bolivar. It is based on a novel by Colombian Nobel Prize-winning writer Gabriel Garcia Marquez and will be directed by Venezuela-born director Alberto Arvelo.
The other is "Toussaint," which the statement said Glover plans to direct documenting the life of Haitian revolution leader Toussaint Louverture.
Government officials and Glover's representatives were not immediately available for comment.
The statement said that the funds will come from proceeds Venezuela obtained from a recent bond sale with Argentina.
Glover is among a number of high-profile U.S. supporters of Chavez. The group also includes singer Harry Belafonte and Princeton University scholar Cornel West, who have defended the Venezuelan president against accusations of democratic abuses.
Glover has met Chavez during visits to Venezuela and even appeared on his television and radio talk show, "Hello, President."