Cuba is not repaying loans for SES Tlmače boilers
Cuba has asked for a delay in repaying the €170m loans it took to purchase technology for its power plants from SES Tlmače (formerly owned by EPH, now by managers). Cuba was supposed to start repaying the loans, which were provided or backed by state-owned Eximbanka, this fall. SES got the contracts due to the personal involvement of then PM Robert Fico and several cabinet members. The current government is working on moving the loans from the bank directly to the state, to improve Eximbanka’s balance sheet. Cuba is intent on repaying and both countries are in talks on collateral. Cuba is offering assets in tourism or mining, as well as patents for its drugs.
