Cuba and Kuwait Sign Agreement in Energy Sector

Cuba and Kuwait signed on Friday in this capital the first agreement of long-term loan in the energy sector, which will allow the Caribbean nation to finance the construction project of 34 small hydroelectric plants.

The signing of documents took place at the Ministry of Foreign Trade and Investment by Manuel Okay, president of the Banco Exterior de Cuba; Livan Arrontes, general director of the Union Electrica, and Abdulwahab Al-Bader, general director of the Kuwait Fund for Arab Economic Development.

The written arrangement, which includes three agreements -Loan, Guarantee and Project-, will favor the acquisition of transportation for the construction of interconnection lines; improve access roads to places where hydroelectric plants are located, as well as the creation of jobs in those areas.

Read more:

http://www.cubanews.acn.cu/cuba/4915-cuba-and-kuwait-sign-agreement-in-energy-sector

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s