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Friday, June 29, 2012

Cuban Banks Granted over 47 000 Credit Lines to the Population since December

Havana, Cuba, June 29.- Cuban banks have granted the population over  47 thousand lines of credit since last December, mostly for housing repairs and construction, according to official information released on Friday.

The credit lines are calculated at dozens of millions of Cuban pesos, though no specific figure was cited, Granma newspaper reported by citing sources with the Cuban Central Bank.

A new credit policy got in force on 20 September 2011 allowing Cuban banks to fund the non-state sector in an effort to help boost self-employment, agricultural production and housing rehabilitation.

The new policy offers the emerging private sector other banking services, such as the opening of current accounts and the possibility to make their payments through money transfers, credit and debit cards, letters of exchange, promissory notes and different kinds of checks.

Over 250 thousand citizens have visited the banks over the past six months to apply for credits, open accounts or request information relevant to the current policy, said Central Bank vice-president Francisco Mayobre, who noted that the objective of the initiative has been met, despite inefficiencies still to be address. (ACN)

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