Nicaragua approves four huge loans from international development banks
Xinhua, February 17, 2016 Adjust font size:
Nicaragua's parliament voted unanimously on Tuesday to approve four loans worth over 190 million U.S. dollars in total to support social, energy and infrastructure projects.
The loans will be based on contracts signed between the government and the Inter-American Development Bank (IDB) and the Central American Bank for Economic Integration (BCIE), Walmaro Gutierrez, who heads the parliament's economic commission, told reporters.
The loans will be used to finance new roads, houses and an expansion of the electric grid in Nicaragua's Caribbean region.
Gutierrez said that some 90 million dollars would be used to support the building of 48.4 km of new highways and the expansion of an existing highway by 40 km.
Another 40 million dollars have been earmarked for expanding the national grid in rural areas and for the building of three electric sub-stations.
About 55 million dollars would go towards the building of 11,025 new houses across the country, while the remaining 5.5 million dollars would be used to support the building of new community centers and health clinics in the northern Caribbean region. Endi