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Russia May Lend $43Mln to Cuba Under Defense Cooperation Program

© Sputnik / Vadim Savitskii / Go to the photo bankRussian Defense Minister Sergei Shoigu's official visit to Cuba
Russian Defense Minister Sergei Shoigu's official visit to Cuba - Sputnik International
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MOSCOW (Sputnik) - Russia intends to sign an agreement in mid-November on giving Cuba a loan worth 38 million euros ($43.25 million) as part of the two countries' defense cooperation agenda, Russian Deputy Finance Minister Sergey Storchak told reporters on Friday.

The document is set to be signed during the visit of a Cuban delegation dealing with Russian-Cuban defense cooperation, which will take place in two weeks.

"Work is underway. No one has refused anyone. There is such a topic, there is such a loan. Some parts [of the agreement] have not been coordinated yet, and they will be coordinated in the near future. Cubans intend to come here [to Russia] with a professional delegation, and I think that we will sign this agreement during this visit," Storchak told reporters, specifying that the loan amount would make 38 million euros.

A T-90S tank, the export version of T-90, at the Ninth International Exhibition of Arms, Military Equipment and Ammunition Russia Arms Expo 2013 in Nizhny Tagil - Sputnik International
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Earlier in the day, Russian Deputy Prime Minister Yury Borisov told reporters that Russian Defense Minister Sergei Shoigu and his Cuban counterpart Leopoldo Cintra Frias were going to define the areas of the two countries' future military cooperation, and also discuss the upgrading the Cuban army's equipment during their talks, scheduled for the second half of November.

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