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Cuba and EU sign cooperation deal

In Uncategorized on November 28, 2008 at 5:16 pm

Hanoi (VNA) – Cuba and the European Union have agreed on up to 30 million EUR (about 38.7 million USD) for rebuilding areas damaged by hurricanes and strengthening the capacity of agricultural production.

An accord to this effect was signed in Havana on November 26 by Stefano Manservisi, head of the European Commission’s Directorate General for Development and Ricardo Guerrero, Cuba’s Deputy Minister of Foreign Investment, according to news agencies.

Speaking to reporters after the signing ceremony, Stefano Manservisi said EU members would send 25 million EUR to 30 million EUR to Cuba next year. He added that much of it would go to repairing homes, power grids and highways ravaged by Hurricanes Gustav, Ike and Paloma, which hit this summer and fall and combined to do more than 10 billion USD in damage.

The new funds also will help Cuba bolster environmental protection, biotechnology, disaster preparedness and food production, which suffered severe damage in the storms.

The EU is Cuba’s largest trade partner with 3 billion USD in trade a year.-

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