France to fund development projects in Cuba

France to fund development projects in Cuba
Indo Asian News Service 30 July 2016

Havana, July 30 (IANS) France will finance various priority development
areas in Cuba through long-term preferential loans, sources said.

Cuban Foreign Trade and Investment Minister Rodrigo Malmierca and French
Ambassador Jean-Marie Bruno signed an agreement on Friday for the
opening of a French Development Agency in Cuba.

It will fund projects on renewable energy, tourism, transport,
agribusiness, sanitation and urban development, Xinhua news agency reported.

According to the Foreign Ministry, a part of the financing will come
from a fund of 231 million euros (about $258 million) created from the
renegotiation of Cuba's external debt with France and other members of
the Paris Club.

The committee administring the fund will be elected in the second half
of 2016 during an official visit to Cuba by Matthias Fekl, the French
Minister of State for Foreign Trade, said Malmierca.

--IANS

Source: France to fund development projects in Cuba -
https://in.news.yahoo.com/france-fund-development-projects-cuba-083004005.html