On April 10th 2018, The National Assembly of Nicaragua (Parliament) a unanimously approved the loan contract between the Government of Nicaragua and the Central American Bank for Economic Integration (BCIE) for the amount of US $ 238 million. This contract was “Part 6” of long term financing program of “Improvement and Rehabilitation of Roads”. The matter was the first item in the order of business of the first meeting of the Second Ordinary Session of the XXXIV Legislature of the National Assembly.
Diputado (Member of Parliament) Jenny Azucena Martínez Gómez, the President of the Infrastructure Commission, said that the loan money would be used for construction on six important stretches of road that will support economic activity and that the majority of the projects are in the north and south Caribbean Coast.
South Coastal Road
Followers keen to see progress on this project will note that this loan approval confirms the announcement in February of this year and reported by Del Sur News that the Coastal Road remains in the “Study Stage” and not part of this round of loans. There was also no mention of the second loan for US $1.4 million which was talked about in February as intended for “pre-investment and design studies” of Phase I of the South Coastal Road.