Nicaragua May Lose Another $190 Million
Nicaragua would lose these resources if the American program Millenium Challenge Account (CRM) decides on March 11th to withdraw from the country.
Tuesday, February 24, 2009
In its website, Mi Punto publishes: "According to the newspaper La Prensa, CRM had anticipated expanding their contribution with $240 million more to build highways, of which $110 million would be contributed by the agency and $130 million by the Central American Bank of Economic Integration (BCIE), which [funds] are also suspended.”
It has been announced that the IDB will provide a $90 million loan to finance road infrastructure in the country.
CABEI is holding $130 million in disbursements until the country pays a pending balance of $5 million.
The Millennium Challenge Corporation (MCC) will approve the new disbursement for investment during the first quarter of 2009.
The EU has joined the the stance adopted by the US regarding the Millennium Account, and announced that it will not turn over some $37 million to Nicaragua.
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