Saudi Arabia is lending US$80mn to Cuba for the import of infrastructure equipment, through its Fund for Development’s export programme.

The loan is split between a five-year revolving US$50mn facility meant to help Cuba import Saudi products, and a US$29mn-plus loan to finance the restoration of the water supply systems and sanitation in the city of Cardenas.

According to Cuba’s foreign trade and investment minister Rodrigo Malmierca Díaz, quoted by Cuban news agency ACN, the first contracts for the supply of equipment for agriculture have already been signed, and the Saudi Fund for Development is currently evaluating further projects.

Saudi Arabia has signed five bilateral agreements with Cuba in the last five years, including four in the field of water and one in the area of trade.