LatinNews Regional Monitor: Caribbean & Central America - 8 April 2019

* The Central American bank for economic integration (Cabei), a financial institution aimed at promoting the development of Central America, has approved two loans to Nicaragua totalling US$202m. The credit will be used by the government led by President Daniel Ortega to finance infrastructure projects in the country. The first loan package, ‘VIII Programa de Mejoramiento y Ampliación de Carreteras’, amounts to US$176.7m and will finance road infrastructure works in Rivas and Chinandega departments and the autonomous region of Costa Caribe Norte, benefiting some 142,975 people. The second loan, of US$25.3m, will be used to reform and build new infrastructure in the Blue Fields and Corn Island airports under a project named ‘Proyecto de Mejoramiento en los Aeropuertos de la Costa Caribe Sur’. Cabei director Dante Mossi said that the credit will boost competitiveness in infrastructure, regional trade and environmental sustainability in Nicaragua. The loan is a major boost for the Ortega government which has faced international sanctions due to its ongoing crackdown on its opponents.

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