Loan to finance Nicaragua capital road project

A loan from the 1054 European Investment Bank (EIB) will fund work on a highway project in Nicaragua’s capital Managua. The US$136 million financing package was secured by the Nicaraguan Government. This will be used to improve and widen the Pista Juan Pablo II highway, boosting capacity and reducing congestion at peak periods, as well as improving safety for drivers. The work involves widening the route so that it has three lanes in either direction, as well as building five flyovers, installing drainage, cycling facilities, pedestrian crossings and bus stops. The Nicaraguan Government previously agreed a deal for a $105 million loan from the 863 Central American Bank for Economic Integration (CABEI) for the project. Nicaragua will itself contribute $21 million to the work.