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The donation "will be destined to the execution of projects of high social impact," said the Cuban ambassador to China.
Cuba's ambassador to China, Carlos Pereira, and the vice-president of the China International Development Cooperation Agency, Tang Wenhong, signed a cooperation agreement formalizing the donation of 700 million yuan, equal to 100 million dollars, on Wednesday.
"We signed a cooperation agreement that formalizes a $100 million donation granted by China during the visit of President Miguel Díaz-Canel in November 2022," the Cuban ambassador said via Twitter.
According to the official, the donation "will be destined to the execution of projects of high social impact." Pereira said it is ratification "of China's strategic participation in our economic and social development plans."
In this regard, both Pereira and Wenhong reviewed the progress made in the bilateral cooperation agenda and the implementation of the agreements reached during the official visit of the Cuban President to China.
✅Donation will be used for projects of high social impact linked to priority sectors of Cuban econ.
In late November, the Cuban President paid an official visit to China, which he considered satisfactory and above his expectations.
The Chinese government is committed to Cuba's development based on cooperation, Díaz-Canel said, highlighting biotechnology; the energy sector; and the fields of information technology and cybersecurity in the collaboration between the two nations.
Cuba and China also develop bilateral cooperation in education and science. Diplomatic relations between the two nations date back to 1960, with Cuba being the first Latin American country to establish ties with China.