The Agricultural and Industrial Development Bank was set up in December 1950 with a capital of $10,000,000 as an autonomous state institution to create and maintain the necessary financial facilities that would provide small farmers and industrialists with credit, mainly medium and long-term loans. These it apportioned equally between the agricultural and industrial sectors. BANFAIC operated successfully until the Revolution of 1959 changed Cuba’s economic framework.
Thanks to Cuba, Russia is a growing threat to the U.S.
June 27, 2024
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*By Jaime Suchlicki The recent visit to Cuba and the Caribbean by a contingent of Russian naval war vessels and submarines indicates
