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Authorities Design Financial Policy for Cuban People |
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Monday, September 25, 2017
Havana.- Authorities from the Central Bank of Cuba will implement a new financial policy to grant credits to the people affected by Hurricane Irma.
The institution has adopted norms that will allow the victims of the cyclone to request credits starting at 300 pesos, with an interest rate of 2.5 percent and a return term of up to 15 years.
The procedures to request loans will take place at the Command Posts of the people's councils and will be handled by representatives of several institutions such as Housing, Commerce, Labor and Social Security, and Finance and Prices.
In that regard, the transactions will be carried out by Banco Popular de Ahorro, Banco de Crédito y Comercio and Banco Metropolitano.
In addition, the State will finance 50 percent of the price of construction materials that will be sold to the people affected by total or partial destruction of their homes.
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