The congress of Nicaragua approved an agreement with CABEI to build a military hospital.
It will feature over 41.000 square meters of constructed space in a central two-storey building plus two three-storey towers, holding 474 beds.
According to EFE, the $66.5 million are split as follows: $4 million will be donated by the Central American Bank for Economic Integration (CABEI), while the remaining will be disbursed as a 20-year loan with a grace period of three years, at an unspecified interest rate.
Part of the investment will be made with a $50 million loan from the BCIE, and the remaining funds will be supplied by the Nicaraguan government.
The new military hospital school, "Dr. Alejandro Dávila Bolaños," will be built on a site measuring 72,336 square meters, where the El Retiro Hospital was previously located. The El Retiro Hospital was a medical center that was destroyed by an earthquake on December 23, 1972.
A loan from the Kuwaiti government will be used to fund part of the construction of a new hospital in the province of Chinandega.
On October 18, the government of Nicaragua signed with Kuwaiti authorities a contract to build and equip a hospital in Realejo Township, in the province of Chinandega, 132 kilometers west of Managua. This contract is part of the total funding of the work.
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