Nicaragua secures USD 15m for geothermal studies

Jul 11, 2014 - Nicaragua will receive a loan of USD 15 million (EUR 367.3m) from the World Bank (WB) to study opportunities for geothermal energy development, finance minister Ivan Acosta told reporters Thursday.

The sum will be invested in drilling works to detect new areas of geothermal potential which could attract investments for energy generation. Acosta spoke of possible investments to the tune of USD 500 million or USD 600 million.

The financing was approved yesterday during a visit of WB's managing director, Mulyani Indrawati, to Nicaragua. The USD 15 million is additional to the bank's approved financing for Nicaragua for 2015.

(USD 1 = EUR 0.735)

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