The vice president of Cuba, Ricardo Cabrisas, and the Minister of Economy and Competitiveness of Spain, Luis de Guindos, have held a meeting in Madrid this afternoon to address issues of mutual interest in the economic field. Within the traditional good relations between both countries, Cuba now represents a new opportunity for Spanish investments. In this context, the Cuban and Spanish authorities actively work to expand economic, commercial and financial relations.
With this objective, in June 2014, the Spanish Export Credit Insurance Company (CESCE) opened a new line of credit insurance coverage for short-term financial operations with Cuba for up to 25 million euros. Last June the Spanish Development Finance Company (COFIDES) announced its financing line to support investment projects of Spanish companies on the island for 40 million euros.
The short-term Cuban foreign debt with Spain has also been addressed at today's meeting, in which the bases for an agreement that allow the establishment of new conditions have been laid. The content will be ratified by the governments of the two countries at an upcoming meeting in Havana.
