CABEI and the Republic of Nicaragua join efforts to promote the development of national land and maritime infrastructure

Managua, November 15^th, 2022. - Through the signing of a memorandum of understanding between the Central American Bank for Economic Integration (CABEI) and the Republic of Nicaragua, a general framework for collaboration will be created to facilitate the potential development of maritime and land infrastructure at the national level.

According to the memorandum, CABEI and the Nicaraguan Ministry of Transportation and Infrastructure (MTI) will promote mechanisms and initiatives that promote sustainable economic development, such as the construction of the port located within the Bluefields Bay in Nicaragua's Southern Caribbean.

"The exchange of information is fundamental in the planning processes for the development of strategic infrastructure in the region. Through this collaboration, we join the efforts of the Republic of Nicaragua, where we will share best practices and international standards to make the Bluefields port project a reality, among other projects of economic and social relevance for the country," said CABEI Executive Vice President, Jaime Díaz.

The construction of the port in Bluefields is of great importance to Nicaragua, as it would eliminate the country's dependence on other ports in neighboring countries, and reduce costs for Nicaraguan exporters, allowing the country to compete for exportable cargo.

In Nicaragua, CABEI is currently supporting the execution of the project to improve the technical and operational capacities of the Port of Corinto, the country's main seaport. In addition, CABEI contributes to the reduction of poverty and inequality by improving the quality of life of more than 6 million Nicaraguans through the execution of 33 programs and projects in sectors such as road, hospital, port and air infrastructure, energy, clean water and sanitation, housing, agriculture and climate change, among others.