With a global financing of US$2,818.22 million CABEI contributes to Nicaragua's economic and social development
The initiatives contribute to poverty reduction, improved quality of life and direct and indirect employment generation for Nicaraguans.
Managua, October 6, 2020. The Central American Bank for Economic Integration (CABEI) continues to leave its mark on the region, positively impacting the economic and social development of its partner countries. Thanks to the management and support of the multilateral institution, millions of people in Nicaragua continue to improve their quality of life through financing amounting to US$2,818.22 million for the execution of a portfolio consisting of 29 projects and programs.
Currently in this country CABEI supports the development of nine construction and improvement and highway projects that add up to a total of 996.21 kilometers, which allows productive regions to be integrated, accessibility to the country's departments, the connection of the Pacific with the Atlantic and the reduction of travel times for national and international transportation. The funds allocated are US$1,188 million, benefiting more than 2.2 million people.
CABEI's Executive President, Dr. Dante Mossi, explained that "in Central America, Nicaragua has a very dynamic project portfolio and boasts a good execution level. In addition, CABEI works with private financial institutions to support the economic reactivation of Micro, Small and Medium Enterprises (MIPYMES), with the objective of providing better opportunities to those that have been affected by the COVID-19.
In the same line of Bank project execution, for the first time in Nicaragua's history more than 4.5 million people will have 24-hour electricity service in both urban and rural areas. This achievement is possible thanks to the implementation of five initiatives aimed at the energy sector, for which an amount of US$357.13 million was allocated.
In relation to the drinking water and sanitation sector, efforts continue to focus on the universal and equitable provision of service; improving drinking water quality for consumption; and promoting shared responsibility in the production, use and sustainability of systems, directly and indirectly benefiting more than one million Nicaraguans. The financing amounts to US$390 million.
Thus, CABEI will continue to finance different initiatives in both public and private sectors, significantly benefiting Nicaraguans, with more hospital infrastructure projects, housing construction and improvement programs, technical and operational capacity improvement of ports, Caribbean airport improvements, programs for market adaptation and climate change effects, sustainability programs for rural families in Nicaragua's dry corridor, among others.