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Cuba’s Central Bank will prioritize sugar cane financing

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Cuba’s Central Bank will prioritize sugar cane financing

Havana, Mar 8 (Prensa Latina) The Central Bank of Cuba (BCC) included sugar cane as one of the items to be prioritized to grant financing, within the framework of the recovery policy of that sector in the country.
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The financial institution added these agricultural productions are among the items that currently benefit from the Development Fund created from the State budget, according to Resolution 22 of the BCC, published in the Official Gazette.

In late 2021, Cuba approved a set of 93 immediate measures to save the sugar industry, its derivatives and energy generation, to which the BCC’s decision responds.

Sugar cane joins other crops such as rice, plantains, cassava and guava, as well as pork production and cattle raising, all included among those benefited by the agricultural development bank, with a capital of 1.8 billion pesos (75 million dollars).

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