Nicaragua capital highway route financing secured

The financing package for a key highway project in Nicaragua’s capital Managua has now been secured. The Nicaraguan Government has agreed terms for two loans for the project, which involves repairing, upgrading and widening the Pista Juan Pablo II highway. One loan is from the 1054 European Investment Bank (EIB) and is worth US$136 million while the other is from the 863 Central American Bank for Economic Integration (CABEI) and worth $105.5 million. The remainder of the financing required will be supplied by Nicaraguan Government funds.

The improvement work will see the route being widened to six lanes and also includes building six pedestrian bridges, five flyovers and installing new drainage. The aim of the project is to cut congestion in Managua and improve traffic flow during peak periods by boosting capacity.