Informacion economica sobre Cuba

Kuwait- KFAED signs KD 7.5 million loan agreement for Cuba

MENAFN – Kuwait News Agency (KUNA) – 02/05/2012

(MENAFN – Kuwait News Agency (KUNA)) Kuwait Fund for Arab Economic

Development (KFAED) signed a loan agreement of KD 7.5 million to finance

rehabiliation of water network and sewage project in Havana, the

Republic of Cuba.

KFAED's press release said, on Tuesday, that another related guarantee

and project agreements were also signed between the Fund and

representatives of the Republic of Cuba, namely the Institute of

Hydraulic Resources.

The Guarantee Agreement was signed on behalf of the Republic of Cuba by

Vice Minister of Finance and Prices Felix Martinez Suarez. The Loan

Agreement was signed on behalf of the Central Bank of Cuba "Banco

Exterior de Cuba" its President Jacobo Peison Weiner; furthermore, the

Project Agreement was signed on behalf of the Institute of Hydraulic

Resources' Vice President by Jva Jose Gonzalez Escudero. All three

Agreements were signed on behalf of KFAED's Director-General Abdulwahab


The aims of the Project are to meet the future demand for drinking water

, reduce the loses in the transmission and distribution networks and

protect the natural resources and the environment for about 550 thousand

inhabitants living in 12 municipalities within the city of Havana

through rehabilitation of water and sewerage network and installation of

water meters.

The 12 municipalities within the project area are divided into two

groups based on the degree of urgency. The first group consists of 7

municipalities namely; Cotorro, San Miguel, Guanabacoa, Habana del Este,

Habana Vieja, La Lisa and Arroyo Naranjo.

The second group consists of 5 municipalities namely; 10 de Octubre,

Centro Habana, Cerro, Marianao and Boyeros. This is the third loan

provided by KFAED to the Republic of Cuba. Two past loans of KD 7.5

million were also given to Cuba to finance the Santiago de Cuba Water

Supply System.

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