CABEI promotes important works for the development of Nicaragua
The financing is aimed at strengthening the country's competitiveness and productivity.
Managua, October 9, 2019.- Today, the Central American Bank for Economic Integration (CABEI) signed two important loans with the Government of Nicaragua with the aim of strengthening the country's competitiveness.
The first loan for an amount of up to US$333,874,540.00. million will finance the “VIII Highway Improvement and Expansion Program.” Likewise, the second loan for US$251,470,000.00 million will fund the "Program for the Improvement of Potable Water and Sanitation Systems in 7 cities."
During the signing ceremony, CABEI Executive President, Dr. Dante Mossi, explained that, "These two loans will enable the development of programs aimed at promoting competitiveness in infrastructure, regional trade and environmental sustainability."
The first loan will increase the paved and cobblestone road network by 284.27 kilometers, benefiting 669,280 inhabitants living in the project target area (Departments of Chinandega, León, Managua, Masaya, Granada, Estelí, Matagalpa, Boaco, Chontales and Autonomous Region of the North and South Caribbean Coast) by boosting production, trade and passenger traffic, while increasing the levels of competitiveness of the tourism, agricultural and livestock sectors in such area.
The second loan will benefit 265,628 inhabitants: 240,360 will benefit from the provision of sanitary sewerage in 51,788 homes and individual sanitation solutions in an additional 15 homes; and 25,268 inhabitants will benefit from the potable water service through connections in 5,443 households. The project will be developed in the cities of Chichigalpa, Chinandega, El Viejo, León, Jinotepe, Ciudad Darío and Telica.
These projects are consistent with Nicaragua's National Human Development Plan strategy and with CABEI's 2015-2019 Institutional Strategy.
