LatinNews Daily - 29 June 2022

In brief: Nicaragua approves new BCIE loan

* Nicaragua’s national assembly has approved a new US$382.6m loan from the Central American development bank (BCIE) to undertake an infrastructural improvement programme which would provide for the construction of 229.13km of roads. The government led by President Daniel Ortega will provide a further US$20m to the initiative. The loan, which was signed by the government and BCIE on 13 June, will be used to fund a new coastal highway stretching the length of the country’s pacific coast, and bring improvements to other existing highways, such as the 11.76km La Calamidad-Empalme Masigue highway in Camoapa municipality, Boaco department. The government hopes that the project, which the BCIE estimates will improve the lives of over 534,820 Nicaraguans, will help increase tourism by improving access to the country’s western beaches.

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