IDB approves $90 million loan for Nicaragua
The funds are to be used for the rural production reactivation program and for poverty alleviation programs for Nicaragua's poorest.
Monday, August 4, 2008
The president of the Inter-American Development Bank (IDB), Luis Alberto Moreno, expressed Sunday in Nicaragua their willingness to continue supporting the government of Daniel Ortega in energy development, rural production and food crisis relief projects.
It has been announced that the IDB will provide a $90 million loan to finance road infrastructure in the country.
The IDB has “detained” all credit activity with Honduras until the political situation in the country is resolved.
Several hydroelectric plants will be remodeled with funds from an IDB loan, among other projects.
Guatemala's government is negotiating two programs for a total of US$600 million with the Inter-American Development Bank (IADB), President Álvaro Colom said.
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