United States freezes aid to Nicaragua

John J. Danilovich, president of the CRM assistance program, reported that all subsequent payments will be frozen.

Wednesday, November 26, 2008

Warnings were given. The US ambassador, Robert Callahan, had warned that they would review the level of economic cooperation for Nicaragua due to the claims of fraud in the recent municipal elections.

The Millennium Challenge Account is a 5 year program base on a 175 million dollar donation from the government and people of the United States.

It is divided into three components: the development of rural businesses; road infrastructure and the strengthening of property rights.

More on this topic

Honduran Businesses Asses Aid Cutoff

September 2009

Businessmen analyzed short-term action plans in the light of measures announced by the United States.

Businessmen from different sectors requested the government legal instruments for creating jobs, such as the Temporary Jobs Law.

Amílcar Bulnes, president of the Hondural Council of the Private Enterprise (Cohep), remarked that "the government must provide legal instruments, and the private sector will do the rest".

United States Cuts $64 Million in Aid to Nicaragua

June 2009

These CRM funds had been designated for the construction of a highway project and a property regulation project.

The board of directors of the Millennium Challenge Fund (CRM) unanimously resolved to reduce the aid to Nicaragua by $64 million (of a total of $175 million). These funds had been frozen since November 2008 after questioning involving municipal commissions.

Holland suspends cooperation with Nicaragua

December 2008

Holland announced that it will not pay the 12 million euros of aid to the Nicaragua government scheduled for 2008 and 2009 due to the contested municipal election held on November 9.

"I don't see it as reasonable to give direct aid to the Sandinista government which has done all it can to prevent free and fair elections," said the Minister of Development, Bart Koenders, in a release.

The EU also freezes funds to Nicaragua

December 2008

The EU has joined the the stance adopted by the US regarding the Millennium Account, and announced that it will not turn over some $37 million to Nicaragua.

This is due to the criticism of the recent electoral process and complains about "the offenses" committed by President Daniel Ortega against contributors.

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