China donates $100 million to Cuba

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China donates $100 million to Cuba

Miguel Díaz-Canel left China with a big check. Beijing has donated some $100 million to Cuba during an official visit by the island’s president, its deputy prime minister, Alejandro Gil, announced on Saturday.

The latter, who is also Minister of the Economy, stressed that this donation was intended “priority” for the economy of Cuba, which is facing its worst economic crisis in three decades. This is caused by the strengthening of the United States embargo, in force since 1962, and the consequences of the global Covid-19 pandemic.

The island in the grip of an energy crisis

The Cuban president concluded his official visit to China on Friday with talks with his counterpart Xi Jinping. This trip was part of the international tour that took him to Algeria, Russia and Turkey with the aim of strengthening the critical electrical energy sector, which has been suffering since May from a severe production crisis resulting in power outages and fuel shortages.

Alejandro Gil announced that during the visit, the two countries signed “twelve legal instruments”, some of which are “related to the reopening of new financing” for Chinese investments in Cuba. The parties also discussed the “theme of the debt” that the island has accumulated during “these (recent) years” with China, the amount of which has not been revealed.

China, Cuba’s second largest trading partner

“Our president has explained the situation we are facing, the Chinese side has shown understanding and we are going to see everyone’s positions together to find formulas acceptable to each of the countries, to ensure order and the restructuring of debts. added the Cuban Deputy Prime Minister. China is the island’s second largest trading partner, after Venezuela, and an important political ally.

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