Business & Commerce

BCIE provides $130 million loan to Nicaragua

Topics::

Central American Bank for Economic Integration, Cuenta Reto Milenio, road construction, loan, loans, Freezing collaboration, Infrastructure and Construction, Nicaragua

Source: elnuevodiario.com.ni
Friday, December 5, 2008

At the request of the government, the BCIE approved the loan for which the country will provide the equivalent for the construction of two roads, in addition to the Millennium Challenge Account.
The first of the two highways will join La Paz Centro in Malpaisillo with Villa 15 de Julio, to form an alternate route to El Guasuale; the second road is from Nejapa, Izapa to Puerto Sandino.

The Millennium Challenge has been participating as a co-financier along with the Government of Nicaragua to build the aforementioned highways. However, due to the pending threat from the Government of the United States to cut financing in response to accusations that Nicaragua has violated one of the requirements in order to maintain the projects.

Related resources

United States Cuts $64 Million in Aid to Nicaragua - Jun 11 09 (49%)

United States freezes aid to Nicaragua - Nov 26 08 (47%)

The EU also freezes funds to Nicaragua - Dec 4 08 (27%)

Honduran Businesses Asses Aid Cutoff - Sep 4 09 (26%)

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