CABEI promotes Student Loans for Young Nicaraguans

Managua.-  As part of its "Financing for the Majority" initiative, the Central American Bank for Economic Integration (CABEI) signed an agreement with the Universidad de Managua to facilitate the access of Central American students to financing for higher education.

Technical, undergraduate, graduate and postgraduate studies are now available to a greater number of young Nicaraguans, thanks to this effort to improve the education of the region’s citizens in order to increase the competitiveness of the Central American nations.

CABEI’s Educational Program (PBCE1) is open to all Central American universities, which must go through CABEI’s eligibility process in order access these funds. Currently, CABEI’s program has US$20 million available for the entire region.

This initiative is part of the PBCE, a mechanism that was created to promote an increase in the Central American countries’ educational indices. It is financed with the Bank’s own resources and with contributions from the Government of the Republic of China (Taiwan), granted through the country’s International Cooperation and Development Fund (ICDF).

During the event, the Manager of CABEI’s Regional Office in Nicaragua, Ms. Edda Magaly Meléndez explained that this strategic partnership is part of the efforts of multilateral institutions to promote projects with a high impact on the region to further the development of the Central American people.

The CABEI officer stated that with this agreement in Nicaragua, CABEI is increasing its efforts to promote educational financing on the Isthmus.

The Universidad de Managua was founded in Nicaragua in 1997 and is renowned for its excellent academic program. It has a student population of more than 8,000 students. This agreement will complement the university’s efforts to promote access to higher education for more students.

CABEI invites young people to consult with the universities that are already affiliated with the program to learn about the requirements for taking advantage of these resources and to learn about the educational programs of the different institutions. Affiliated universities include the Universidad Americana, Ave María College, Thomas More, the Universidad de Managua and the Universidad Centroamericana.