Nicaragua: $ 171 Million in Loans from IDB

The financial institution confirmed the release of the funds for 2011 to support projects in the power sector, transportation sector and budget support, among others.

Monday, December 13, 2010

This was announced by the representative of the organization in the country, Mirna Liévano, adding: "Nicaragua has already met all the requirements of transparency for accessing new loans from the IDB."

The IDB representative said, as published by El Nuevo Diario, "the IDB has already approved the $ 42.5 million, authorized after Nicaragua complied with various requirements and commitments like the new Government Procurement Law and its regulations, which, she said, was widely consulted and accepted by all parties involved.”

More on this topic

$ 171 Million IDB Loan for Nicaragua

March 2011

The IDB representative in Managua, Mirna Liévano, confirmed funding for the country in 2011.

Funds will support initiatives in electricity, transportation, housing and social projects.

On the political situation, the IDB representative added: "... the economic situation in Nicaragua is quite stable, for example, monetary and exchange policies are very predictable,” according to a publication by Prensalibre.com.

IDB to Lend $ 170 Million to Nicaragua in 2011

November 2010

The loans will finance the national budget and development projects.

In an interview on Channel 12, the representative of Indo-American Development Bank in Managua, Mirna Lievano, said "We expect the final figure around to be around 170 million dollars for Nicaragua in 2011, for projects in the electricity sector, transportation, comprehensive care to children and budget support."

Nicaragua admits that it is running out of funds

December 2008

Daniel Ortega admitted that the European Union has frozen $43 million as well as the impact that the cancellation of the Millennium Challenge Account by the US will have.

The Nicaraguan president proposed aid from Venezuela as the only alternative to overcome the freezing of external cooperation, despite the fact that Venezuela is going through a severe economic crisis due to the drop in the price of petroleum.

Finland withdraws aid to Managua

November 2008

They suspended $2.57 million in budget support and warned that they are expecting "free and transparent election" on Sunday.

This was the statement by Marko Lehto, budget support and governance adviser from the Finnish Embassy, according to an interview with the political weekly Confidencial that was republished in the El Nuevo daily.

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