Infrastructure

Loan Agreement Signed for Construction of 34 Small Hydropower Projects in Cuba

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A Loan Agreement was signed today in city of Havana,  between the Government of the Republic of Cuba and Kuwait Fund for Arab Economic Development, whereby Kuwait Fund will make a  loan to the Republic of Cuba in the amount of Kuwaiti Dinars eight million eight hundred thousand  (equivalent to about US$ 30 million) for financing the Construction of 34 Small  Hydropower    Project. The Loan Agreement was signed by Mr. Manuel A. Vale Marrero, President of Banco Exterior de Cuba, on behalf of the said Bank, whereas the Guarantee Agreement was signed on behalf of the Republic of Cuba by His Excellency Mr. Felix Martinez, Vice Minister of Finance and Prices, and the Project Agreement was signed on behalf of the  Union Electrica by Mr.…

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