Russia Has Approved the 38 Million Euros Loan for Cuba for the Military Equipment Purchase
OREANDA-NEWS Russia will provide Cuba with a state loan of 38 million euros for the purchase of Russian military equipment, the corresponding agreement has already been signed and passed in Moscow the necessary internal procedures, said the Head of the Federal service for military-technical cooperation Dmitry Shugaev.
"The loan agreement was signed and has already passed internal procedures on the Russian side," Shugaev said in an interview, answering a question about the status of the loan agreement of 38 million euros," which should go to the purchase of Russian military equipment."
The Head of the Federal service for military-technical cooperation recalled that the agreement on the on Military Technical Cooperation with Cuba has been in force since 2006.
"Now the interaction is implemented within the framework of the so-called technological cooperation program. It involves primarily projects for the development of the defense sector of Cuba," he said.
Shugaev noted that such cooperation gives Cuba an opportunity to develop its military-industrial complex on a long-term basis. He stressed that the money in the framework of the state loan will be used for the development of technological cooperation and technical assistance to the Cuban side.
Earlier it was reported that Russia highly appreciates the allied interaction of Russia and Cuba in the international arena and the position of the Republic in relation to the sanctions pressure.
The Russian Minister stressed that "a powerful impetus to the strengthening of bilateral relations was given by the meeting of Russian President Vladimir Putin and Chairman of the state Council of the Republic of Cuba Miguel Bermudez on November 2 in Moscow. During the talks, Moscow offered Havana its assistance in updating the railway network, which, according to experts, will lead to an increase in passenger traffic in Cuba three times, and cargo traffic twice.