Russian ECA offers to finance $4bn in Cuban development schemes

(Global Construction Review, London, 29 September 2016) Russia has offered to embark on a spectacular renewal of its economic relations with Cuba, based on 55 projects with a total value of some $4bn over the next four years, and has also agreed a cooperation agreement in the nuclear power sector. The bulk of the funding would be provided by Russian banks and safeguarded by guarantees from the Agency for Export Credit and Investment Insurance products.