Iran extends 300 million euro line of credit to Cuba

Iran extends 300 million euro line of credit to Cuba
Nov 07, 2009 (BBC Monitoring via COMTEX) --

Iran has agreed to extend a 300-million-euro (445 million dollars) line
of credit to Cuba to finance quick-return projects in the Latin American
country.

The Memorandum of Understanding was signed between the officials of the
two countries at the end of their 14th joint economic cooperation
committee meeting in Havana.

Iran's minister of Industries and Mines Ali-Akbar Mehrabian says the new
deal will increase the Iranian credit line to Havana from the current
200 million euros to 500 million.

Mehrabian says the line of credit will also provide Cuba with facilities
for buying Iranian goods and engineering services.

He says Tehran is ready to expand its economic ties with Havana.

Cuban Minister of Transportation Jorge Luis Sierra also welcomed the
agreement, saying his country attaches great importance to its ties with
Iran.

Tehran and Havana began bilateral cooperation in 1981. Since that time,
the two states have signed several bilateral cooperation agreements in
health care, biotechnology, construction, fishing, culture, trade,
agriculture, labour, social security and sports.

Source: Press TV website, Tehran, in English 1121 gmt 7 Nov 09

BBC Mon TCU ME1 MEPol 071109 ek
(7 November 2009)
http://www.individual.com/story.php?story=109792634