Russia is to grant Cuba a loan of $100 million for the modernization of the plant

Russia is to grant Cuba a loan of $100 million for the modernization of the plant


The loan will be used in 2016 – 2019. The amount of the loan in 2016 will not exceed 31 million. The Finance Ministry instructed to negotiate with the Cuban side for agreeing to sign the loan agreement.

MOSCOW, 20 Oct. Prime Minister Dmitry Medvedev signed a decree on approval of the loan Cuba $ 100 million in the modernization and expansion of metallurgical plant “Antillana de Acero Jose Marti”.

The document posted Tuesday on the official Internet portal of legal information.

“Credit is used in 2016 — 2019. The amount of the loan in 2016 will not exceed 31 million dollars”, — stated in the document about using of loan.

According to the document, the Finance Ministry instructed to negotiate with the Cuban side for agreeing to sign the loan agreement.