US$53 million for Hospital Construction

Nicaragua’s National Assembly has approved the loan with the Central American Bank for Economic Integration to build a hospital in the northern Caribbean.

Added to the loan funds will be $7.8 million which will be provided by the government to build a new hospital in the Autonomous Region of the Northern Caribbean (RACN). reports that “…the CABEI and the Government of Nicaragua signed on 23 September last year a loan agreement to finance the replacement of ‘Regional Hospital Nueveo Amanecer’, located in the municipality of Puerto Cabezas or Bilwi. ”

“… The implementation of this project is scheduled to be carried out in three years, according to the loan contract.

The financing granted by CABEI comes with a 15-year term, including a three year grace period, with an interest rate of 4.03% per year, revisable and adjustable quarterly, in accordance with the loan conditions.”