LatinNews Daily - 28 April 2022

In brief: Nicaragua announces China funds for housing

*Nicaragua’s government led by President Daniel Ortega has announced an agreement with China regarding over US$60m in Chinese funds for the housing sector. The agreement was signed off by chairman of the China International Development Cooperation Agency (CIDCA), Luo Zhaohui, and Nicaragua’s finance minister, Iván Acosta. This is the latest sign of burgeoning cooperation between the two countries since Nicaragua’s decision in December 2021 to establish diplomatic ties with mainland China and sever relations with Taiwan. The Nicaraguan government cited Luo as saying that the CIDCA, which is a government agency, had held four meetings with Nicaraguan officials and reached agreements on four important areas: housing; anti-epidemic materials; vaccines against the coronavirus (Covid-19); and human resource training.

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