Cuban Bank grants Loans to Families affected by Hurricane Irma

HAVANA, Cuba, Nov 21 (acn) More than 750 families affected in Havana by Hurricane Irma have been benefited, until November 10, with loans granted by the Metropolitan Bank (Banmet by its Spanish acronym) to undertake recovery tasks.

The total of these loans amounts to more than 1,642 000 Cuban pesos (CUP), reported Lidia Naranjo, director of Personal Banking of that entity that only operates in Havana.
The specialist clarified that the affected families have been able to purchase construction materials, cooking equipment and other goods, such as mattresses, which are not normally subject to credits.
The loans, she said, are from 300 CUP, and its limit depends on the applicant's ability to pay, with an interest rate of 2.5 percent and repayment term of up to 15 years, elements that are advantageous compared to usual conditions.
The amount of the subsidies granted by Banmet to families affected by Irma, less than two months after its passage through Cuban northern coast, amounts to 7,449 000 CUP.
According to the Cuban Government, the State Budget will finance 50 percent of the price of construction materials purchased by people affected by the partial or total destruction of their houses.