A value of more than $5 billion has been given to the investment projects that the Ortega administration intends to carry out through public, private and investment partnership deals.
Among the projects proposed by the Nicaraguan government and open to funding proposals are:
The government hopes to capture this year $ 1,039 million in foreign direct investment (FDI).
The projections for this year are an increase of 107% compared to what was captured in 2010 which totaled $ 500 million.
According to information from the Central Bank of Nicaragua, in 2010 the energy sector was the largest recipient of investments with 29.2%, followed by telecommunications with 28.2%, 17.5% free zones and tourism with 10.1%.
Nicaragua should be a rich country. It was once a prosperous place. Granada was the most prominent city in Central America and a key spot in global commerce.
Chris Mayer, from The Daily Reckoning, Australia's leading investment publication, commented that Nicaragua's economy worsened during the 20th century, with widespread poverty and a population that migrates to other destinations looking for a brighter future.
This office will promote investments and cooperate in Central American integration efforts.
The announcement was made by the Russian Foreign Relations Minister, Sergei Viktorovich Lavrov, after a meeting with President Daniel Ortega in Nicaragua.
“Ortega assured they discussed bilateral cooperation in health, education, security and opening markets. He also announced the construction of a modern hospital”, reported Elnuevodiario.com.ni.
The funds will be used in the projects that were going to be financed by the withdrawn resources of the U.S. Millennium Challenge Fund.
The president of Nicaragua, Daniel Ortega, announced on Sunday, June 14th that its Venezuelan counterpart Hugo Chávez approved $50 million to the Central American country for the project of territorial, infrastructure, and rural road improvements.
These CRM funds had been designated for the construction of a highway project and a property regulation project.
The board of directors of the Millennium Challenge Fund (CRM) unanimously resolved to reduce the aid to Nicaragua by $64 million (of a total of $175 million). These funds had been frozen since November 2008 after questioning involving municipal commissions.