Nicaragua to lose aid from Britain and Germany
The German embassy in Managua and Britain's Department for International Development announced the withdrawal of aid for Nicaragua as of next year.
Friday, May 2, 2008
Representatives of both countries emphasized that the decision forms part of changes in their general policies concerning aid, and has nothing to do with Nicaragua in particular.
The disbursement of $277 million for development of the coastal zone will be delayed at least until after the next elections in El Salvador.
That is what the Chancellor is saying when proposing the creation of an International Cooperation Agency to execute the tasks that the International Cooperation Department of the Ministry evidently does not carry out itself.
The Dutch Development Bank is making its exit from the country official and has suspended commitments and disbursements, including for a hydroelectric project promised for Agua Zarca.
The Millennium Challenge Corporation has approved a second disbursement of funds for $277 million, aimed at developing the country's coastal area.
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