India has extended a line of credit (LoC) of USD 75 million (over Rs 500 crore) to Cuba. The line of credit is being provided to finance solar parks in Cuba. The line of credit is as per agreement signed between Export-Import Bank of India (Exim Bank) and Banco Exterior De Cuba for installation of 75 MW Photovoltaic Solar Parks in the Republic of Cuba. Banco Exterior De Cuba is a nominated agency of the Government of Cuba.
Important takeaways for all competitive exams:
- Capital of Cuba: Havana; President of cuba: Miguel Diaz-Canel.
Source: The Business Standard