Russia has approved a $ 43 million credit to Cuba for its military development

Russia approved and signed a loan of 38 million euros (USD 43 million) who will grant Cuba for him "sustainable development "of its defense sectorRussian Deputy Prime Minister Yuri Borisov reported on Wednesday.

"The agreement has been finalized and the documents signed." All parameters, such as the interest, payment schedule and currency in which repayments will be made, they were adopted in coordination with Cuba, "said the top Russian official at the agency. Interfax.

Borisov, who co-chairs the Russo-Cuban Intergovernmental Commission and went to the Caribbean island last year, stressed that both countries would benefit from the agreement, which aims "to ensure the sustainable development of Cuba's defense sector in the years to come"

For his part, the director of the Federal Service for Technical-Military Cooperation, Dmitri Shugavev, explained in an interview with the newspaper Kommersant that the loan will be used "to develop the technological cooperation and technical badistance to the Cuban side"

This cooperation will give the Cuban regime "the opportunity to develop its long-term military-industrial complex"he said.

Shugaev recalled that the intergovernmental agreement on technical-military cooperation with Cuba dates from 2006.

Russia has in the past provided Cuba with "a considerable amount" of weapons and military equipment and provided the island with technical-military badistance, the official said.

"There is aircrafts, armored vehicles, artillery systems, air defense systems and marine equipment of our production"Shugaev explained.

(With EFE information)