The Ministry of Finance announced that $20 million will be made available for lending to the sector, with priority being given in the first stage to producers with planted areas measuring between 3 and 20 fields.
The National Commission for Transformation and Development of Coffee Plantations (Conatradec) announced that funding will be for up to 7 or 8 years, with a three year grace period, at an interest rate which will be discussed next week, along with the financing plan for coffee growers.
Approved resources from an international loan will be allocated to infrastructure improvements at the customs offices of Peñas Blancas, San Pancho and Guasaule.
One of the purposes of the improvements to be undertaken at the customs offices is to reduce the time it takes to process control of goods in transit, something that Nicaraguan businessmen and the region have complained about repeatedly.
An announcement has been made that using a loan from a German bank expansion and improvements will be made in Managua to the wastewater treatment plant, and a biogas plant will be built.
It is anticipated that the project will take about three and a half years to be developed, which will divided into four phases. The expansion and optimization of the treatment of wastewater from Managua, the construction of the biogas plant, expansion of solar drying facilities and finally the promotion of a new consulting service to support the Nicaraguan Company of Aqueducts and Sewers (Enacal) in implementing the project.
As part of the reform to the tax concentration law cooperatives are calling for the elimination of the retention of 1% per month on their gross income and for a special tax rule to be created.
The Concertación Tax Act indicates that cooperatives are free to pay income tax if their gross annual incomes are less than or equal to $1.5 million. However, this same law also states that 1% must be retained per month in advance even if the stated income level is not reached.
A loan from the Kuwaiti government will be used to fund part of the construction of a new hospital in the province of Chinandega.
On October 18, the government of Nicaragua signed with Kuwaiti authorities a contract to build and equip a hospital in Realejo Township, in the province of Chinandega, 132 kilometers west of Managua. This contract is part of the total funding of the work.
Business leaders will form part of the technical committee of advisers to the Grand Canal Megaproject in Nicaragua.
Joseph Adam Aguerri, president of the Superior Council of Private Enterprise (Cosep) and Benjamin Lanzas, chief of the Nicaraguan Chamber of Construction were chosen by the board of Cosep as their representatives to the committee.
The Central Bank of Nicaragua (BCN) and the Ministry of Finance reported that the main economic indicators of the country show there was good momentum in 2013 but vulnerability in an international context marked by a reduction in raw material prices and weak recovery of the world economy.
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