Saturday, September 27, 2014

South Africa to provide Cuba with $30 mn in aid

South Africa to provide Cuba with $30 mn in aid
Published September 26, 2014 EFE

South Africa intends to provide Cuba with $31.2 million to help promote
agriculture and rebuild infrastructure as a part of the bilateral
cooperation agreement signed on Friday in Pretoria.

The aid will be delivered in three installments. The first one, worth
$3.57 million, will be used to buy seeds needed for Cuban agriculture.

Cuba pledged to use the second installment, $8.93 million, to purchase
needed items in the South African market. Finally, South Africa
allocated a credit line of $18.75 million, which Cuba can use for any
purpose whenever in need.

The agreement was signed by South African Minister of Trade and Industry
Rob Davies and the Cuban ambassador to the African country, Carlos
Fernandez de Cossio.

The injection of economic aid was announced by South African President
Jacob Zuma during his visit to the Caribbean country in December 2010,
where he examined the damage caused by the multiple hurricanes that
battered the island in 2008.

South Africa and Cuba have maintained good relations since the
dismantling of the apartheid regime in 1994. EFE

Source: South Africa to provide Cuba with $30 mn in aid | Fox News
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