America to help small businesses in Cuba

Shannon-Dale Reid

2 weeks ago

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Reports are that the Biden administration is preparing to unveil new regulatory measures to allow more U.S. financial support for small private businesses in Cuba.

The move, expected as soon as this week, is seen as a long-promised but limited step to ease restrictions to help Cuba’s budding entrepreneurs cope with the fallout from the Communist-ruled island’s crippled economy.

According to the same reports, the announcement is aimed at making it easier for Americans to directly assist Cuban small business owners by providing guidelines for loans to them through the U.S. financial system.

These new measures could be rolled out while Cuban President Miguel Diaz-Canel visits New York for the United Nations General Assembly beginning on Tuesday.

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