Nicaragua: $3 Million for Agriculture

The World Bank approved $3 million for the Government of Nicaragua to purchase eeds and supplies for basic-grain planting.

Tuesday, May 19, 2009

The head of the Ministry of Agriculture and Forestry (MAGFOR), Ariel Bucardo, said that in addition to the $3 million approved by the World Bank on Monda, MAGFOR is negotiating with the international entity for an additional appropriation of $10 million "to support the purchase of supplies and seeds for some 240 thousand farmers nationwide," according to an article in Laprensagrafica.com

At the recent inauguration of the 2009-2010 agricultural season, President Daniel Ortega acknowledged his government’s difficulties in financing productive activities.

On that occasion, the president indicated that loans were being managed "through the Inter-American Development Bank (IDB), the Venezuelan National Bank of Economic and Social Development (BANDES) and the Bolivarian Alternative for the Americas (ALBA)."

More on this topic

IDB Loans $170 Million to Nicaragua

January 2010

The Inter-American Development Bank has earmarked the funds for energy, transportation and environment.

Daniel Zelikow, executive vice president of the bank, explained that one of the goals is to extend power availability to 60%-80% of the country’s rural areas.

Laprensa.com.ni published further comments by Zelikow: “And this is not only a matter of infrastructure, it also means tackling poverty, as it improves the standard of living and provides job opportunities for individuals”.

$5 Million from Taiwan for Nicaragua

July 2009

Depending on the technical analysis of the project, the government of Taiwan will lend funds for the construction of cold storage facilities for warehousing products.

The project includes the construction of two cold storage warehouses, one with 2,700 square meters for the storage of dairy products, and the other with 2,500 square meters for the storage of seeds.

Nicaraguan Congress ratifies $108 million loan

January 2009

During the first working session after two months of conflict, the Assembly approved six contracts for loans totaling $108.

Elnuevodiario.com.ni reports: "The approve credit includes $20 million granted by the IDB in September for fiscal management improvement and to help the Sandinista Government to increase tax collection.

IDB approves $90 million loan for Nicaragua

August 2008

The funds are to be used for the rural production reactivation program and for poverty alleviation programs for Nicaragua's poorest.

The president of the Inter-American Development Bank (IDB), Luis Alberto Moreno, expressed Sunday in Nicaragua their willingness to continue supporting the government of Daniel Ortega in energy development, rural production and food crisis relief projects.

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