Nicaragua has been hit hard by the global economic crisis. 30 per cent of its exports come from the United States, so given economic recession in the US, Nicaragua is suffering catastrophic consequences.
Reuters.com reports Nicaragua seeks $300 mln IADB loan due to crisis:
The Inter-American Development Bank (IADB) will consider Nicaragua’s request for a $300 million loan to help it weather the global economic crisis, Nicaraguan President Daniel Ortega said on Thursday.
The members of the IADB board of governors from Central America and the Dominican Republic are due to meet next Thursday in Managua to commemorate the 50th anniversary of the bank’s founding.
Haber27.com reports Iran to invest over $200M in Nicaragua:
The Iranian ambassador to Nicaragua has revealed that Tehran will invest in the Latin American country’s energy and agriculture sectors. The investment in Nicaragua will include the construction of a dam and a hydroelectric power station.
The Iranian investment in the country’s energy sector could pass $200 million, said Iranian ambassador Akbar Esmaeil-Pour. Talks between the two countries, according to the official, may also lead to the construction of a “multi-clinic” in Nicaragua.
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