CABEI to lend USD 86.5m for Nicaraguan green projects

The Central American Bank for Economic Integration (CABEI) has approved a USD-86.5-million (EUR 79.3m) loan for the development of sustainable electrification and renewable energy projects in Nicaragua.

This loan will help Nicaragua increase its generation capacity and to grow transmission and distribution networks in both urban and rural areas throughout the whole country, the local government announced on Wednesday.

With this loan, Nicaragua can bring electricity to 20,193 families in rural communities and thus normalise services to almost 17,000 homes, the country's vice-president Rosario Murillo said.

According to the government, these funds are part of a global investment plan of USD 616.8 million by various cooperation agencies, including the Inter-American Development Bank (IDB), the Nordic Fund, the Japan International Cooperation Agency and CABEI.

(USD 1 = EUR 0.918)

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