Global Trade Alert

During his visit to Cuba between 6 and 8 December 2010, South African president Jacob Zuma had announced an economic assistance package worth R 350 million (approx. US$ 32 million) to assist with agricultural development and with reconstructing infrastructure following the damage by hurricanes in 2008. The package was to be constituted as follows:

• Facility A: Grant of R40 million for the purchase of seeds 'R5 million for purchase of seeds in South Africa and the remaining R35 million for purchase of seeds either in South Africa or elsewhere in the world'.
• Facility B: Solidarity Grant of R 100 million for the purchase of goods in the South African Market.
• Facility C: R210 million credit line 'with a first tranche of R70 million credit line available immediately on entry of the Agreement into force and the R140 million second tranche available after the repayment of the initial R70 million'.

Following some delays after the ratification of the package by parliament in November 2012, its implementation, de jure on 21 November 2014, started de facto in November 2014 during the visit of a South African trade mission to the Havana International Fair.