Monday, June 18, 2007

Iran to offer loan to Cuba

Iran offers Cuba 200 million euro in loan to improve ties.

Press TV

Mon, 18 Jun 2007 14:54:32

The Ministry of Mines and Industries has announced that Iran will offer a 200-million-euro loan to Cuba to boost bilateral commercial ties.

Dozens of memoranda of understanding in different sectors including agriculture, dam construction and machinery manufacturing were inked during the 12th Meeting of Iran-Cuba Joint Economic Commission held in Havana during June 14-18, ISNA reported.

Mines and Industries Minister, Alireza Tahmasebi, who led the Iranian delegation, told reporters in Havana that economic cooperation between the two trans-regional states will be largely boosted in two years' time.

"Given the potential of the two countries, I believe that economic cooperation between Tehran and Havana can be increased to an agreeable level similar to Iran-Venezuela ties," he said.

Cuba is one of Iran's most important economic partners in Latin America. In over two decades, Tehran and Havana have signed bilateral cooperation agreements in sectors such as health care, biotechnology, construction, fishing, culture, trade, agriculture, labor, social security and sports.

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