Managua, Nicaragua, September 3, 2014. - The Central American Bank for Economic Integration (CABEI) and the Nicaraguan government signed a cooperation agreement for US$7.0 million to support the government in CABEI grants US$7,000,000.00 loan to Nicaragua
CABEI approves a loan to the "Program to Adapt to Market Changes and the Effects of Climate Change" to improve the living conditions of coffee and cacao producing families.
Managua, Nicaragua, September 3, 2014. - The Central American Bank for Economic Integration (CABEI) and the Nicaraguan government signed a cooperation agreement for US$7.0 million to support the government initiative known as “Program to Adapt to Market Changes and the Effects of Climate Change (NICADAPTA, Spanish acronym)”. The entire NICADAPTA program amounts to US$53.1 million, with participation from the International Fund for Agricultural Development (IFAD) for US$24.2 million; CABEI will provide US$23.0 million; the Nicaraguan government, US$3.3 million; and the Program beneficiaries, US$2.6 million.
The objective of NICADAPTA is to improve the living conditions of coffee and cacao producing families and reduce their vulnurability to climate change and price fluctuations in the international market for these products. There are expected to be forty thousand beneficiary families.
Representing the Nicaraguan government at the signing ceremony was Finance Minister Mr. Iván Acosta; CABEI was represented by the Director of the CABEI Regional Office in Nicaragua, Dr. Silvio E. Conrado G.; and Ms. María Antonieta Machado represented the Ministry of Family, Community, Cooperative and Associative Economy.
