November 3, 2006
The Inter-American Development Bank (IDB) has approved a $49.5 million soft
The Inter-American Development Bank (IDB) has approved a $49.5 million soft loan to Nicaragua to finance improvements on a highway to the border with Costa Rica. The project will be part of the Puebla-Panama Plan for regional integration, which promotes a network of highways linking eight countries from Mexico to Panama. The new loan is for 40 years, with a 10-year grace period. Annual interest rates will be 1% during the first decade and 2% thereafter.