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Latin America Investment News on Viva Tropical

Nicaragua and Honduras Benefit from $160 Million Infrastructure Fund

Article Summary:

The Central American Bank for Economic Integration (CABEI) has an initial capital of $160 million dollars in its infrastructure fund and will fund two projects in Honduras and one in Nicaragua.

Original Article Text From La Prensa Nicaragua via Google Translate :

New Infrastructure Fund Will Finance Projects In Nicaragua And Honduras

Infrastructure projects in Nicaragua and Honduras will be the first to receive Infrastructure Fund assistance for countries of Mesoamerica and the Caribbean released on Sunday by Mexico, during the annual meeting Internamericano Development Bank in Montevideo.

“They are concessional funds for roads, sanitation, water and urban transport,” he told AFP Honduras finance minister, Hector Guillen.

The fund, which will run through the Central American Bank for Economic Integration (CABEI) – has an initial capital of 160 million dollars and will start with two infrastructure projects in Honduras and one in Nicaragua.

“In the case of Honduras are two roads in the corridor Pacific integration from Mexico to Panama, very important for the flow of goods and people, and a road within the logistics corridor linking the Pacific to the Atlantic Honduran Salvadoran,” said Guillen .

The minister hoped that the implementation of the loan will begin “immediately” and in this regard stated that “mechanisms are being requested expedited implementation” of funds.

The creation of this fund promoted by Mexico is derived from agreements Yucatan and was announced by Mexican President Felipe Calderon in December as part of the XIII Summit of the Mechanism of Tuxtla Dialogue and Agreement.

This is a public trust designed to provide financial support through loans, partial guarantees, venture capital and grants to public and private sectors for infrastructure projects and programs in countries of Central America and the Caribbean.

The launch was carried out as part of the 53 annual meeting of IDB governors that runs until Monday in Montevideo.

The bank, with a potential loan of 12,000 million dollars annually, is also preparing to launch a counter-cyclical mechanism for the region, which can also be used in situations of natural disaster, sources told the AFP agency.

Link to Original Article:

From La Prensa Nicaragua

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