Financing: Nicaragua Seeks New Markets

Within the framework of the political and economic crisis that has limited access to international loans, Nicaragua's National Assembly approved a $100 million loan with a Taiwanese bank, at the request of the Ortega administration.

Wednesday, February 20, 2019

After U.S. President Donald Trump signed a law known as the "Nica Act" in December 2018, which limits Nicaragua's access to international loans, Daniel Ortega's government has been forced to seek new sources of financing.

From the National Assembly of Nicaragua statement:

February 19, 2019. A 100-million-dollar loan signed between the Import and Export Bank of the Republic of China Taiwan and the Government of Nicaragua for Budgetary Support in the Public Investment Plan was approved today, February 19, by the deputies of the National Assembly.

Read full statement.



More on this topic

Nicaragua: The Impact of the "Nica Act"

October 2016

Less investment, depletion of international reserves and contraction of public spending, in the opinion of Funides, are some of the effects that might be felt if the US Senate approves the bill.

The Nicaraguan Foundation for Economic and Social Development (Funides) has analyzed the potential impact of a possible US approval of the bill known as the "Nica Act", which aims to place conditions on the granting of loans by international institutions to the Ortega administration.

El Salvador: $59 Million for Water Treatment Plant

January 2016

Congress has approved a loan from the French government to finance the construction of the water treatment plant in Las Pavas.

From a statement issued by the Legislative Assembly of El Salvador:

With the aim of finalising the funding for the "Project for the Renovation of a Drinking Water Treatment Plant in Pavas and Network adduction", representatives of the Legislative Assembly approved a financial protocol between the governments of France and El Salvador, for an amount of € 53 million (US $59 million).

Nicaragua: $55 million for Work on Customs Offices

August 2015

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.

Why Is Costa Rica Seeking Financing in China?

April 2015

Chinese Loans in Latin America are concentrated in countries that have difficulty getting finance from institutions such as the World Bank and the IDB.

An article in Espectadornegocios.com discusses "The risks of Latin America taking loans from China", outlining the characteristics of Chinese finance, its favorable aspects in relation to credit institutions in the West, and the constraints imposed for them to be granted.

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