Cuba Provides Bank Loans to Private Workers

The Decree-Law 289, which will allow access to bank loans for private workers and those who practice other forms of non-state enterprises, comes into effect today.By PL

The Banco Metropolitano SA reported the minimum amounts for the granting of loans, which will also benefit farmers and those who need to repair their homes.

According to the bank, this financial aid will be available in each of its branches, and the minimum is three thousand pesos (120 USD).

That amount may be used in the procurement of raw materials, materials and supplies, the purchase of equipment and repair of personal property.

For those interested in buying construction materials and paying labour, the loans will have a minimum value of one thousand pesos (about 40 USD).

The press release of the institution also stresses that small farmers who legally prove ownership of land can request loans from 500 pesos (20 USD) to purchase and repair equipment and for financing production.