China granted new loans to Cuba

The Chinese government granted two new loans to Cuba to buy farm machineries and carriages.

Cuba’s national TV reported that Chinese Vice president of the Export- Import Bank of China (Exim Bank) Xie Ping, and his counterpart, Cuban deputy minister of Finance and Prices, Felix Martinez signed the agreements in Havana.

These agreements will ease the purchase of YTOs Mid and High performance tractors. These equipments will be used in the rice sector of the Caribbean island, as well as 240 carriages for passengers.

Ma Keqiang, economical and commercial adviser of the embassy of China in Cuba, assessed both agreements as an important step in the interest of fostering bilateral financial and economical cooperation.

The diplomat also highlighted China’s support to the economical development of the island, which includes investment in renewable sources of energy, production of electrical appliances, and digital TV equipments.

Martinez recalled that Exim Bank has granted other three loans to boost rice cultivation in Cuba and revealed that a fifth credit for the same reason is being assessed.

Cuban deputy minister announced that there are others ongoing joint projects linked to “strategic” programs of the country.

Among these programs he mentioned the cranes installed in the avant-garde port of Mariel as well as the construction of a multifunctional station equipped with modern technologies at the Santiago de Cuba’s bay.

Cubasi Translation Staff