LatinNews Daily - 11 February 2022

In brief: Nicaragua signs MoUs with Chinese firms

*Nicaragua’s government led by President Daniel Ortega has signed Memoranda of Understanding (MoU) with Chinese firms to develop investment projects. According to the Ortega government, Nicaragua’s ministries of energy & mining (MEM), health (Minsa), transport & infrastructure (MTI) and state water and sewage utility (Enacal) have signed MoUs with Chinese firms, China Communications Construction Company (CCCC) and China CAMC Engineering (CAMCE) with further MoUs due to be inked with China State Construction Engineering (CSCEC) and Power Construction Corporation of China (PowerChina). According to the Nicaraguan government, the agreements relate to strategic investments in renewable energy projects, hospital infrastructure and medical equipment, road, railway and port infrastructure as well as water and sanitation. The latest announcement follows Nicaragua’s decision in December 2021 to establish diplomatic ties with mainland China and sever relations with Taiwan. Last month the two countries had signed four agreements: a general cooperation agreement; an MoU regarding cooperation in the framework of China’s Belt and Road Initiative (BRI); an agreement relating to visa exemptions for holders of diplomatic and official passports; and an MoU regarding the establishment of a mechanism for political consultation.

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