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Cuba and the Saudis Sign New Loan Agreement

Cuba and Saudi Arabia sign a new agreement in Riad, further strengthening bilateral ties.

The Cuban media has reported that Cuba and Saudi Arabia have signed a new loan agreement for $26.6 million dollars in Riyadh.  The Saudi Development Fund (SDF) will loan funds to assist in the development of the Program of Rehabilitation and Construction of Social Works of the Office of the Historian of Havana.

Ricard Cabrisas, the Cuban Minister of the Economy and Vice President of the Council of Ministers, and Yousef Ibrahim Albassam, the Executive Director of the SDF, signed the agreement further strengthening Cuban and Arab ties.

Minister Cabrisas also held a meeting with King Salman bin Abdulaziz Al Saud at the Al-Salam Palace in the city of Jeddah.

Cuba’s official delegation also included included representatives from Energy and Mines, Economy and Planning, Foreign Trade and Investment, Foreign Affairs, the Central Bank and Cuba’s ambassador to Saudi Arabia.

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On the agenda, meetings took place with various Saudi government officials including ministers from the Department of Economy and Planning, Energy, Industry and Mineral Resources, and Finances, as well as other high level government officials.

The Cubans and the Saudis also agreed to continue strengthening bilateral ties especially in the area of economic cooperation between the two nations.

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