Cuba pays 6 of 50 million euros debt to Iran
Tehran, Iran, June 20
By Mehdi Sepahvand –- Trend:
Cuba has paid 6 out of 50 million euros worth of outstanding debt to Iran, considering an agreement reached between the two sides last year which allows the payment in installations.
In 2016, Iran’s Export Guarantee Fund of Iran (EGFI) and Bank Saderat, and Cuba’s Banco Exterior de Cuba (BEC) agreed that in 2017 the Cuban side would pay 1 million euros each month. In 2018, the agreement added that Cuba will pay 2 million euros per month.
Arash Shahraeeni, head of an Iranian committee which traveled to Cuba recently to follow up on the agreement, told Mehr news agency June 20 that the Cuban side has so far kept its promise and paid 6 million euros of the debt.
He added that during the last week’s trip to Havana, the two sides reached agreements over the original amount and interest of the payment.
The debt comes from an agreement 10 years ago, according to which credit was given to BEC for purchasing goods and services from Iranian companies, which the Cuban side failed to uphold.