Cuba and the Saudis Sign New Loan Agreement

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The Cuban news media has reported that Cuba and Saudi Arabia have signed a new loan agreement for $26.6 million dollars in Riad.  The Saudi Development Fund 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 the City 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 Saudi Development Fund, signed the agreement further strengthening Cuban and Arab ties.

Cuban Economy and Ricardo Cabrisas is currently on an official visti to Saudi Arabia.  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, and Foreign Affairs, Cuba’s Central Bank and the country’s ambassador to Saudi Arabia.

On the agenda, meetings took place with various Saudi government ministers 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 areas of economic cooperation between the two nations.

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