Cuba appreciates OPEC support to ease US blockade

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Havana, June 24 (RHC) Loipa Sanchez, Cuban Ambassador to Austria, thanked the support provided by the Organization of Petroleum Exporting Countries (OPEC) to the Caribbean nation, at a time when the world is facing the new coronavirus pandemic and the U.S. government is tightening its restrictions against the island.

In an exchange with Dr. Abdulhamid Alkhalifa, Director-General of the OPEC Fund for International Development, a multilateral institution based in Vienna, the Cuban representative reiterated the importance that cooperation with OPEC in key sectors of the national economy such as agriculture and water resources has had for Cuba, citing Cubaminrex.

Since 2002, when the first agreement between Cuba and the OPEC Fund for International Development was signed, the organization has granted 15 government concessional loans for the implementation of projects in different provinces, aimed at modernizing irrigation systems, rehabilitating electrical networks and water and sewage systems, seven of which are currently underway.

The Organization of Petroleum Exporting Countries was founded in September 1960 in Baghdad, the capital of Iraq, and is made up of 13 countries in Africa, Asia and South America, which hold 43% of the world’s oil production and 81% of the world’s reserves of so-called black gold.

(Taken from RHC)

 

 

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