HAVANA, Dec 11 (ACN)—Cuba and Saudi Arabia ratified on Wednesday their intentions to expand bilateral commercial relations through an accord to rehabilitate water supply networks in the eastern province of Camaguey.
The accord between Cuba´s Foreign Trade and Investment ministry and the Saudi Development Fund includes the granting to the island of 40 million dollars to support the rehabilitation of the water supply infrastructure.
The document was penned by Saudi engineer Yousef Ibrahim Al-Bassam, who is executive director and vice-president of the Saudi Development Fund and by Rodrigo Malmierca, minister of Foreign Trade and Investment.
Al-Bassam said he was satisfied for being a partner of Cuba and for financially supporting vital projects for Cuba. We will respond to the priorities of the Cuban state and keep strengthening bilateral relations, he said and went on to say that they expect to make joint investment in tourism, trade, agriculture, the industrial sector and develop relations between the private sectors of both nations.
Cuban minister Rodrigo Malmierca thanked the Saudi Fund for its cooperation and said that the financial resources granted to Cuba will be used in the most efficient manner for the benefit of the Cuban people.
The Saudi Fund previously granted a credit line to Cuba to repair water supply networks in Havana and to purchase medical equipment.
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