Nicaragua presents road projects to receive World Bank money

Nicaragua's transport and infrastructure minister, Oscar Mojica, spoke before the budget and economic production committee of the national assembly to present three road projects that require financing.

The presentation took place as part of sessions in the assembly (pictured) to discuss the approval of a US$35mn loan agreement the transport ministry (MTI) signed with the World Bank earlier last month.

The projects entail paving three different stretches of road in different parts of the country with cobblestones, which is expected to benefit 180,000 people.

The road sections, which total 41.1km, connect Granada to Malacatoya (8.3km), Cárdenas to Colón (13.7km) and Macuelizo to Santa María (19.1km).

The implementation of the projects requires investments of US$38mn, of which the national government is expected to provide US$3mn to complement the aforementioned loan.

Some US$6mn will be invested in the Granada-Malacatoya section, while another US$18mn will be spent on the rehabilitation of the section connecting Macuelizo and Santa María.

The remaining US$11mn will be invested in the Cárdenas-Colón section, official news portal El 19 Digital reported.

The loan has a maturity of 30 years, with a 10-year grace period.