Over 1.5 Billion Pesos to Fund Credits

Cuba: Over 1.5 Billion Pesos to Fund Credits

The deputy president of the Central Bank of Cuba, Francisco Mayobre,
announced that the country has allocated over 1.5 billion pesos to
finance loans to the population. Since Law 289 came into force in
December 2011, about 271 loan requests have been approved, local media
reported today.

The majority of those requests are related to construction works in
houses, including the purchase of building materials and the payment to
the labor force, said the vice president of the Central Bank.

According to Mayobre, the loans given to the self-employed, as the
private sector workers are known in Cuba, have increased due to the
facilities granted to the trade banks to give loans.

The vice president of the Central Bank announced the approval of 91
funding for the non agricultural cooperatives, chiefly for initial
working capital, which is expected to promote those new ways of
businesses in Artemisa, Havana, Mayabeque, and Sancti Spiritus provinces.

Source: "Cuba: Over 1.5 Billion Pesos to Fund Credits - Radio Angulo" -
http://www.radioangulo.cu/en/news/cuba/20556-over-15-billion-pesos-to-fund-credits-cuba-allocates-.html