China gives 100 million dollars to Cuba

China donated nearly $100 million to Cuba during the official visit of Cuban President Miguel Diaz-Canel, which ended in the country, Cuban Deputy Prime Minister Alejandro announced Saturday.

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During Diaz-Canel’s official talks with his Chinese counterpart Xi Jinping on Friday, “the Chinese side has donated 100 million dollars to our country,” Mr. Gil said in statements made public by Cuban television.

One of the finance ministers also stressed that the donation was intended as a “priority” for the island’s economy, which is facing its worst economic crisis in three decades, and was caused by the strengthening of the United States’ sanctions. , in place since 1962 and the consequences of the global Covid-19 pandemic.

The Cuban president ended an official visit to China, part of an international tour that took him to Algeria, Russia and Turkey, with the ambition to strengthen the critical electric energy sector, which has suffered from a severe production crisis since May. Power outages and fuel shortages.

During Alejandro Gil’s visit, it was announced that the two countries had signed “twelve legal instruments”, some of which “relate to the resumption of new financing” for Chinese investments in Cuba.

The parties also discussed the “theme of debt” the island has accumulated “in these (recent) years” with China, the amount of which was not disclosed.

“Our president has explained the situation we are facing, the Chinese side is understanding and we are going to look at everyone’s positions together to find principles acceptable to each country, to ensure order and debt restructuring,” Mr. Gill added.

China is the island’s second largest trading partner and an important political ally after Venezuela.

During Miguel Díaz-Canel’s visit to Algeria in mid-November, President Abdelmadjid Tebboune announced the resumption of energy supplies to Cuba, the donation of a solar power plant and the cancellation of interest on Cuba’s debt, even without disclosing the amount.