Chairperson, this agreement between the government of the RSA and the government of the Republic of Cuba on economic assistance was signed in Pretoria on 3 February 2012 by Minister Rob Davies and the ambassador of Cuba, His Excellency Angel Villa.
The financial package set out in the agreement consists of facilities A, B and C. Facility A is a grant of R40 million for the purchase of seed, and R5 million is allocated for the purchase of seed in South Africa. The remaining R35 million is for the purchase of seed either in South Africa or elsewhere in the world.
Facility B is a solidarity grant of R100 million for the purchase of goods in the South African market. Facility C is a R210 million credit line, wherein a first tranche of R70 million will be made available immediately on entry into force of the agreement. The second tranche of R140 million will be made available after the repayment of the initial R70 million.
In view of South Africa's recognition of these strategic avenues for deepening dialogue and bilateral economic relations, the Select Committee on Trade and International Relations requests that the House ratifies the agreement on economic assistance between the government of the RSA and the government of the Republic of Cuba.
Declarations of vote: