Nicaragua: $61.5 million for Road to Atlantic Coast

The Inter-American Development Bank has approved a loan of $61.5 million to improve access by road to the South Atlantic Autonomous Region.

Wednesday, December 3, 2014

From a statement issued by the Inter-American Development Bank (IDB):

The Inter-American Development Bank (IDB) has announced the approval of a loan of US $61.5 million to Nicaragua to improve the quality of transport services and national and international integration of the country.

The main objectives of the project are to improve access by road to the South Atlantic Autonomous Region (RAAS) and reduce travel times and costs of freight and passengers along the corridor Gateada-UN-Bluefields.

Nicaragua has the lowest road density in Central America. Due to the shortage of roads and poor road conditions, the RAAS is relatively isolated from the rest of Nicaragua and other Central American countries. In rural areas, lack of connections with routes and ports is an obstacle to economic growth. It also restricts the population's access to services such as health, education and public safety, helping to perpetuate poverty.

The project will provide a paved all-weather road to the RAAS. It is expected that through the project, travel time for passengers using the corridor will drop by about 40% and 71% for freight.

The operation consists of a loan of US $30.75 million over 30 years with ordinary capital resources of the IDB, with a grace period of six years and interest based on LIBOR plus a loan of US $30.75 million over 40 years from the Fund for Special Operations of the IDB, with a grace period of 40 years and fixed interest rate of 0.25 percent.



More on this topic

Honduras: $75 million Loan for Roads

November 2016

With IDB financing the highway connecting San Pedro Sula to Tegucigalpa and the road that connects to Puerto Cortés, will be extended.

From a statement issued by the Inter-American Development Bank:

Honduras will improve two major road corridors, increasing lanes and renovating several sections with the help of a loan of US $75 million from the Inter - American Development Bank (IDB).

Nicaragua: $91 million for Road Infrastructure

September 2013

The Inter-American Development Bank has granted a loan of $91.5 million to improve 150 kilometers of roads.

A press release from Inter-American Development Bank (IDB) reads:

Nicaragua will improve the efficiency and safety of its road transport system and promote regional integration using a loan of $91.5 million approved by the Inter-American Development Bank (IDB).

IDB Loans $110 Million for Panamanian Infrastructure

February 2010

The credit line by the Inter-American Development Bank will be used for rural infrastructure and aqueducts.

$70 million have been earmarked for widening the highway Divisa – Las Tablas, rural roads and upkeep.

“$40 million will be used to strengthen the National Aqueduct and Sewers Institute, expand drinkable water coverage and improving sewers”, reported Prensa.com.

$77 Million for Highway in Honduras

June 2009

A stretch of 180 km will be repaired in the “agricultural corridor,” a highway the unites Tegucigalpa with Puerto Castilla on the Atlantic Coast.

The Inter-American Development Bank (BID, acronym in Spanish) approved a line of credit in the amount of US$50 million for the project, which will improve conditions for the transportation of cargo and people by reducing operating costs and travel times.

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