The Inter-American Development Bank (IDB) announced on May 1 the approval of a US$20 million loan to Nicaragua for renewable energy generation projects
Managua, Nicaragua; May 03, 2018
The Inter-American Development Bank (IDB) announced on May 1 the approval of a US$20 million loan to Nicaragua for renewable energy generation projects. The amount will be distributed through loans from private banks to small and medium-sized local enterprises.
In 2017, the IDB disbursed US$130 million in loans for the II Productivity Improvement Program in Nicaragua and the III Program to Strengthen the Electricity Sector in Nicaragua.
According to sources from the Government of Nicaragua, an IDB delegation that visited the country last January assessed the projects under cooperation as positive. Currently, the IDB program in Nicaragua exceeds US$300 million.
According to the Official Foreign Cooperation Report published by the Central Bank of Nicaragua (BCN by its acronym in Spanish), in the first semester of 2017, foreign cooperation reached US$404.9 million, of which US$271.2 million corresponded to the public sector and US$133.7 million to the private sector. According to the report, total cooperation increased by 3.9 percent, compared to the same period last year.