US$9 million loan for housing in Nicaragua
More than 4,000 Nicaraguan families will be able to access services and basic necessities such as water, sanitation, electrification and social housing, with the CABEI loan.
The Central American Bank for Economic Integration (CABEI) granted a US$9 million loan to help improve the housing conditions of approximately 4,133 families of limited means in Nicaragua.
Nicaragua has a deficit of 957,000 units in the housing sector; approximately 90% of households present some level of deficiency, and that number is expected to rise by 20,000 units annually. Deficits in basic services are also high, with 20% of households lacking access to potable water, 32% without a connection to power grids and 73% with no connection to public sewage systems.
The CABEI loan granted to the “Program for Housing and Integral Improvement of Habitat in Nicaragua” is expected to increase the percentage of low-income families with improved houses with potable water and sewer systems living in communities with paved roads with gutters and electricity service. In addition, 4,133 houses will be renovated and 5,000 families will receive land titles.
CABEI’s exclusive participation will directly benefit at least 4,133 families with an end impact on approximately 21,500 persons.
During the loan contract signing, CABEI Director for Nicaragua Dr. Silvio E. Conrado expressed CABEI’s commitment to the region and underlined its effort to foster beneficiaries’ skills and abilities in rural and urban areas throughout the nation.
This initiative is in line with the CABEI 2010-2014 Institutional Strategy, "Competitiveness with Social Integration and Development," specifically with the strategic axis of social development, with a special emphasis on its focus areas of human development and social infrastructure.
CABEI’s projects and contributions prioritize actions for target groups that are most in need of financial support, in particular to increase their hope and quality of life by providing housing solutions and strengthening the coverage of basic needs and services.
In this area, CABEI has disbursed more than US$168 million to the Central American region, benefitting more than 20,048 low-income households that now have more dignified housing.
