In Nicaragua, the license of CrediFactor S.A. to offer securities to the public was revoked due to the difficulties the company is facing in paying for the securities.
The executive president of CrediFactor, Mauricio Pierson Stadthagen explained to Elnuevodiario.com.ni that "...
Although up to July loans granted by Nicaraguan banks totaled $5.047 million, 5% more than in the same month in 2017, since May it has been decreasing month by month.
Credit granted by the financial system increased 5.4% year-on-year in July (8.4% in Jun-18), reaching a gross portfolio of 162,568.2 million of cordobas. However, in terms of levels, the credit shows a decrease for the third consecutive month, reported the Central Bank of Nicaragua.
On top of an international context with low prices, coffee producers in Nicaragua also have to deal with the complications arising from the sociopolitical crisis and a lack of financing options.
As if coffee production's current position in the unfavorable context of low international prices was not enough of a problem for coffee farmers, in Nicaragua they are facing yet other disadvantages, which only complicate the sector's prospects further.
The Ortega administration has announced that with a donation from the Japanese government it intends to build and equip a new hospital in Nueva Guinea, in the South Atlantic Region.
Without revealing details of the date on which the work might begin, representatives from the Japanese embassy in Nicaragua announced that they will finance the start of works on the new hospital, which will have a construction area of 6,649 m2with capacity for 132 beds, four operating rooms, an emergency room, and other services.
$14 million will be allocated to renovating 50 thousand hectares of coffee plantations, with varieties less vulnerable to climate change and more resistant to diseases such as rust.
The head of the Colombian Ministry of Finance reported that "...
The government reported that the Inter-American Development Bank has approved a $20 million loan to finance renewable energy projects managed by small and medium enterprises.
Vice President Rosario Murillo told government media that "... the IDB gave no objection to Banco de la Producción (Banpro) who will give loans to small and medium-sized renewable energy companies," this is reported by Iván Acosta, Minister of Finance, who in turn received the note from Francisco Mayorga who represents us at the IDB."
The IDB plans to disburse up to $150 million this year to finance road construction and electrification works in areas of the Nicaraguan Caribbean.
Representatives of the entity in Nicaragua explained that the goal is to approve up to $280 million in loans for development works in the country this year.
With a loan from the World Bank, outstanding construction works will be completed in several road sections in Granada and Rivas.
This financing for roads is part of a total of $145 million approved by the World Bank for various works in the country, including improvements in the health care system in rural areas.A statement issued by the entity states that "... $60 million will be allocated to the expansion of the Community and Family Health Model nationwide...".
The union of builders is proposing creating an insured mortgage fund, to provide financing for those who can not meet the requirements demanded by banks.
The Chamber of Developers of Nicaragua (Cadur) announced that the fund could start with an initial seed capital of $5 million.The objective of the fund is to finance the purchase of new homes, and to facilitate access to financing for workers in the informal sector or clients that receive remittances from abroad.
With a loan from the BCIE, the improvement and renovation of 195 kilometers of roads in different areas of the country will be financed.
The project involves the paving of 194.39 kilometers, divided into six road sections with different asphalt pavement structures, hydraulic concrete and concrete paving slabs.
Lack of irrigation on most of the country's arable land is preventing farmers from accessing bank financing to increase the productivity of their crops.
Regarding the financing that is currently granted, Luis Rivas Anduray, CEO and director of Banpro Grupo Promerica, explained to Elnuevodiario.com.ni that "...Banks finance only 10% of the country's arable areas. This 10% are the products that generate the most foreign currency for Nicaragua, such as coffee, sugarcane, etc., but there is another 90% of the area that can be financed, in which banks do not get involved, due to the credit risk that this constitutes. Therefore, when you have irrigation, the risk is substantially reduced."
With a loan from the IDB, new hospitals, health centers and maternity homes will be built and equipped in the departments of Nueva Segovia, Madriz, Estelí, Matagalpa and Jinotega.
From a statement issued by the Inter-American Development Bank:
The Inter-American Development Bank (IDB) has approved a loan of US $133 million to improve the well-being ofNicaraguans, through attention to the main factors that affect health conditions. Likewise, actions are planned to strengthen the quality of customer service, by training Ministry of Health staff.
With a loan from OPEC, the second phase of the rural electrification project on the Caribbean coast will be financed.
The decree must still be approved by the National Assembly, which will receive it in the coming days.The loan was agreed between the Ortega administration and the Organization of Petroleum Exporting Countries.
The 2018 budget for the Nicaraguan Institute of Urban and Rural Housing includes $12 million to be granted in subsidies and loans for the purchase of low-income housing.
The funds will be allocated among low-income families for the purchase of homes categorized as social interest, in the form of mortgage loans through financial institutions and subsidies.
Registration fees for security interests over moveable assets have been reduced from the range $163 to $327, to the range of $5 to $33.
The Superior Council of Private Enterprise (Cosep) announced that after talking with representatives from the Supreme Court of Justice, it was possible to reduce the fees that are incurred when registering security interests in order to use them later to request financing.
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O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
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