Nicaraguan legislators approve US$65.3 in loans from abroad
Nicaragua's Parliament approved the receipt of US$65.3 million in loans for highways and health services.
Thursday, May 29, 2008
The first loan approved by the legislators was US$20 million from the Inter-American Development Bank for health services on the Atlantic Coast, mainly for repairs to the municipal hospital at Puerto Cabezas that was destroyed by hurricane Felix last September.
IDB approved the loan for the repair of highways, bike paths, the airport in the southern zone of the country, and even for the Metropolitan Electric Train.
The IDB will make available $ 1.000 million over the next four years to develop infrastructure and energy projects.
Interest and fees are paid for $781 million in outstanding loans, of which only $41 million have been used, 5% of the total.
Corporación Andina de Fomento has $200 million to fund preliminary studies for formulating comprehensive infrastructure projects in the region.
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