Cuba receives $100 million donation from China

Cuba receives $100 million donation from China

HAVANA, Nov. 26th  (EFE)  China has donated $100 million to Cuba as part of President Miguel Diaz-Canel’s now-completed visit to the Asian country, the Cuban government announced on Saturday.Cuban Deputy Prime Minister Alejandro Gil assured that this amount will be used “in the interests of our people,” the president said.

In statements to the Cuban press regarding the tour of Diaz-Canel and six of his ministers in China, Russia, Algeria and Turkey, Gil explained that 12 legal documents had been signed.

He singled out those related to “renewal of new funding”, such as the investment in a floating dock shipped from China to Cuba in 2019.

“This investment is almost complete,” he said, “but some adjustments are expected,” he said, quoted in the information.

Also, the head of the economics and planning department mentioned that they had agreed to invest in “a program to convert or modernize our press.”

Energy and debt agreements with China

Other agreements included upfront financing for the Herradura wind farm (to the east) and a photovoltaic solar plant with a capacity of more than 100 megawatts, he said.

According to Gil, the Chinese side “had an understanding” of Cuba’s debt.

“We are going to bring positions closer to find mutually acceptable formulas for streamlining and restructuring debts,” he said.

The presidential tour ended this Friday in China, passing through Algeria, Turkey and China.

At a meeting with Chinese President Xi Jinping, Diaz-Canel mentioned the economic crisis in Cuba, and the leader of the Asian nation assured him that he would “do everything possible to support” the Cubans in the face of “great challenges.” those who face

Cuba was in 1960 the first Latin American country to establish diplomatic relations with the People’s Republic of China, founded in 1949.