Russia Will Help Cuba Revive the Military Industry by Credit Line of $42,5 Million

HAVANA, (BM) – Moscow and Havana signed an agreement under which the Russian Federation will modernize the military-industrial complex of Liberty Island, learned, quoting

This was announced by Deputy Director of the Federal Service for Military-Technical Cooperation of Russia Anatoly Punchuk.

The modernization will be carried out at the expense of the credit line in 38 million euros. At the moment, all contracts ensuring the smooth implementation of the transaction have been signed.

Read more: Russia to Loan Cuba $50 Million for Military Equipment Purchases

As part of the work, Russia will carry out both the modification of the equipment already delivered and train specialists “so that they themselves can repair, modernize and create more advanced models,” Punchuk said in a statement.

It is noted that despite previous reports on the possible allocation of part of the loan issued to Havana for the supply of new helicopters, all funds will go specifically for the transfer of technology and the modernization of existing equipment and the military-industrial complex.

Bilateral cooperation between the Russian Federation and Cuba was discussed at a meeting held between the Chairman of the Council of Ministers of the Freedom Island, Ricardo Cabrisas Ruiz, and the Minister of Defense of the Russian Federation Sergey Shoigu.

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Source: Topwar