I wouldn't take GB News as a credible source, I personally see it as pure propaganda.
There's a slightly different viewpoint here on the website which details the EU and Cuba's relationship:
https://www.eeas.europa.eu/cuba/european-union-and-cuba_en?s=136
It states the money is provided for:
Humanitarian Aid:
Following Hurricane Irma in September 2017, the European Union has provided EUR 1,6 million in humanitarian aid to some 25.000 vulnerable people living in the most affected areas. Immediate response to shelter needs has been prioritised in the target areas. As a complement, support is also provided for water, sanitation and hygiene in key health infrastructure, as well as epidemiological surveillance and rehabilitation of health services in the most deprived communities.
The funding detailed in the above article is also explained differently:
Since 1988, the European Union has funded with around EUR 300 million more than 200 cooperation projects in the country. Some 80 projects worth EUR 155 million are currently ongoing, reflecting an increase of three times the average level of the last decade.
In the first twenty years, the main focus of this cooperation was on emergency projects. The first bilateral cooperation strategy was programmed in 2008, prioritising the sectors of sustainable agriculture and food security, renewable energy and climate change, and the modernisation of the economy, currently in force. The 2021-2027 programme will focus on supporting sustainable municipalities and boosting the national economy, with an emphasis on MIPYMEs and the sectors of agriculture, energy, communication technologies, creative cultures and biotechnology, including cooperation on development and access to vaccines against COVID-19.
In addition to bilateral, regional and thematic programmes, Cuba benefits from its participation in higher education (Erasmus +) and research (Horizon-Europe) programmes.