to-the-point: South Korea to invest USD25m in Nicaraguan PV project

Nicaragua's National Assembly announced on Monday that the South Korean government will invest USD 25 million (EUR 22.7m) in solar projects in rural communities.

The first project will start in late 2016 or early 2017, said the Korean ambassador Seok Hwa Hong. In April, the export-import Eximbank bank of South Korea, together with the Ministry of Finance and Public Credit, are expected to sign a formal agreement to develop the photovoltaic (PV) projects.

South Korea's cooperation with Nicaragua can amount up to USD 300 million annually, the Nicaraguan government noted.

(USD 1 = EUR 0.909)

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