The IADB, together with other organizations, has launched a $ 6.3 million initiative to develop a market for biogas which will provide renewable energy for small farmers in Nicaragua.
A press release from the Inter-American Development Bank reads:
The Multilateral Investment Fund (MIF), a member of the IDB Group, has partnered with the Nordic Development Fund and two Dutch NGO’s, Hivos and SNV, to launch a $ 6.3 million initiative to develop a biogas market to provide renewable energy to small farmers in Nicaragua and will contribute to reducing emissions of greenhouse gases.
The country will receive a grant from the EU for $ 9.8 million and loans from international bodies for electrification projects.
Mendel Goldstein, Head of Delegation of the European Commission (EC) for Central America and Panama, announced a $ 9.8 million donation of as part of the Easy Investment in Latin America program.
Infolatam reports, "This (donation) will cause a series of loans (to Nicaragua) from the European Investment Bank, World Bank, Inter-American Development Bank, Central American Bank for Economic Integration, Nordic Fund and other development banks, for a total of about 380 million dollars."
The donation will be used for developing projects specified by President Porfirio Lobo.
NDF, the Nordic Development Fund, was created in 1989, and its member countries are Denmark, Finland, Iceland, Norway and Sweden.
In Honduras, the NDF has funded 7 projects for over $40 million. Since 2009, it has focused on programs related to reducing and adapting to climate change, natural disasters, renewable energies and reduction of poverty.