Monday, August 20, 2012
Havana.- The Cuban financial system promotes a credit policy which facilitates the granting of several funding forms, aimed at supporting the private sector.
In this sense, the Central Bank of Cuba (BCC, in Spanish) is evaluating the requirements to be taken into account when approving the different types of loans.
During the first half of 2012, more than 49,900 credits, totaling 347 million pesos, were granted to individuals, mainly for house repair and construction.
According to specialists, only about 7,000 credits involved private farmers and, of them, 79 loans were requested for the purchasing of agricultural tools.
The new credit policy came into effect last December and allows the bank to finance the non-governmental sector in order to increase the private work.