Russia intends to provide Cuba a credit of 1 billion euros

Russia may grant Cuba credits in the amount of more than 1 billion euros for the implementation of joint projects, said Russian Ambassador in Cuba Andrey Guskov.

“with regard to new loans, they are, according to the already achieved and still working on the agreements provided for the implementation of joint projects”, — said Andrei, in an interview to RIA “Novosti”.

Russia and Cuba have signed a major contract for the rehabilitation of the railway network of Cuba. A significant part of the funding contract almost 900 million euros will be loans from Russian banks, said the Ambassador.

the Parties considered the draft of the second stage of the upgrade of the metallurgical plant “Antillana de Acero them. Jose Marti”, a project of the overhaul of the ten power units at Cuban TPPs and a number of other projects, said Guskov.

the Total credits for these and other projects could exceed 1 billion euros. “Once again I want to emphasize that the funds invested in the Cuban economy, will be offset by the repayment of loans”, — concluded the Ambassador.