OPEC aid agency to grant Cuba $50m


Xinhua, Havana :
The aid arm of the Organization of Petroleum Exporting Countries (OPEC) has agreed to grant Cuba 50 million US dollars over the next few years to renovate infrastructure and boost agriculture, state daily Granma reported Monday.
Suleiman J. Al-Herbish, director-general of the Fund for International Development (OFID), who was in Cuba last week on a working visit, told the daily he was in the country “to ratify that we will continue working” with the Caribbean island nation.
Since the OFID began its cooperation with Cuba in 2002, the agency has approved 10 loans totaling 128 million dollars to boost agriculture and renovate the electricity networks, water supply networks and sewage systems in several Cuban cities.
Herbish, who first visited Cuba in 2004, said as the earlier projects succeeded, the OFID has decided to pursue other projects.