CABEI and Nicaragua sign loan for highway project
The resources will be used to improve two highway stretches of the country’s strategic highway corridor.
Managua, June 1, 2016. – Today, the Central American Bank for Economic Integration (CABEI) and the Government of Nicaragua signed a US$58.7 million loan to finance the project, "Improvement of the Muy Muy – Matiguás – Río Blanco Highway."
The project involves the construction of two highways stretches. The first is 22.5 km long and goes from Muy Muy to Matiguás, and the second is 36.0 kilometers long and connects Matiguás and Río Blanco. In total, 58.5 kilometers of highway will be improved. These highway stretches are part of the strategic corridor that will connect the North Caribbean Coast Autonomous Region with the Central and Pacific Regions of Nicaragua. They will be built with hydraulic concrete over a period of 36 months.
In addition to the economic benefits that it will provide to the country, the highway stretches will improve the standard of living of people living in areas where the work will be carried out. The project is expected to benefit 98,000 inhabitants with greater opportunities for accessing markets, health centers and schools.
The loan will be granted with the Bank’s ordinary resources under Nicaragua’s new borrower status as a result of its classification as a medium-low income country by multilateral organizations.
