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Home >> Business
UPDATED: 10:11, September 30, 2006
Russia restructures debt to Cuba, lends 355 mln U.S. dollars
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Russia has agreed to provide another 355 million U.S. dollars for its loan to Cuba, official sources announced on Friday, the second day of Russian prime minister's visit to Cuba.

Russian Prime Minister Mikhail Fradkov formally signed the debt deal on Thursday night with Ricardo Alarcon, president of Cuba's National Assembly, to increase its intergovernmental loan from 166 million dollars.

The Cuban government was pleased by this new high-level contact, which would contribute to stronger Cuban-Russian relations, Alarcon said.

Fradkov said that his visit was the result of the 2000 visit to Cuba by Russian President Vladimir Putin, adding that the visit provided both sides a chance to analyze Russian-Cuban relations and to see how they might improve bilateral relations in future.

In addition, the two officials signed some technical agreements covering banking and military collaboration, whose details were not specified.

Fradkov was the highest-level official to visit Cuba after Putin, and his visit marked a significant warming in the relations between the two nations.

Source: Xinhua

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