(EFE) .- The French Government reported this Tuesday that it agreed with the Cuban Executive the subsidy of almost 38.1 million euros (about 43 million dollars) destined for health and sanitation projects on the island within the Franco-Cuban cooperation agreement signed in 2016.
In a statement, the French Ministry of Foreign Affairs indicated that this agreement is the result of the meeting in Paris between the French Minister of Foreign Trade, Franck Riester, and the Cuban Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca.
“Both signed the financing conventions for two new projects in the public health sector for an amount of 6.1 million euros,” said Riester’s cabinet, without further detailing the specific area of the subsidies, or their term of execution.
Likewise, two financing agreements supported by the French Development Agency “for a total amount of 32.5 million euros in the area of sanitation” were also signed, without providing further details.
Both Riester and Malmierca welcomed the “effective implementation” of an insurance worth 150 million euros that protects France in the medium and long term from eventual defaults on its exports to Cuba.
This grant is part of the agreement signed between Cuba and France in 2016 within the process of restructuring the island’s debt (which stood at 11.1 billion dollars in 2015, according to the French Public Treasury).
The then rulers of both countries, the socialist François Hollande and Raúl Castro, determined at that time the creation of a fund endowed with 217 million euros to finance projects “of common interest” in Cuba with the support of the French Development Agency.
According to the French Ministry, in the bilateral meeting on Tuesday, both Riester and Malmierca welcomed the “effective implementation” of an insurance worth 150 million euros that protects France in the medium and long term from eventual defaults in its exports to Cuba and that will allow “maintaining Franco-Cuban trade relations.”
From the political point of view, Riester highlighted “France’s willingness to accompany Cuba on the path of reforms and its commitments in relation to respect for human rights” within the framework of the political dialogue and cooperation agreement between Cuba and The EU.
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