Nicaragua’s parliament has ratified a $22m loan from the Inter-American Development Bank (IADB) that will be used to improve the country’s electricity sector, according to several news reports.
An initial loan of $30.5m was approved on 7 July, bringing total bank support for this programme to $50.5m.
The government aims to support the transformation of Nicaragua’s energy matrix and increase electricity coverage from 65 per cent to 85 per cent, which will benefit 1.7 million people, IDB said in a press release.
The latest loan will allow for the construction of 214 km of transmission lines, with the goal to significantly improve electricity delivery.
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