Cuba to default on loans for SES Tlmače boilers
- Vladimír Dohnal
- Sep 4, 2020
- 1 min read
The government expects Cuba this fall to default on loans it took to upgrade its power plant, using technologies by SES Tlmače, a Slovak firm. The state-owned Eximbanka insured loans totaling €120m and provided a €54m loan for the project. To prevent the bank from getting into trouble, the Finance Ministry proposed assuming the bank’s exposure to Cuba.
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