The World Bank looks likely to supply funding that will help pay for a major road improvement project in Nicaragua. The US$75 million loan should be agreed by November 2016, if all goes to plan. The funding will pay for major improvement works for the road connecting Nicaragua’s capital Managua with the country’s second city, Leon. At present the route suffers heavily from congestion at peak periods and is unsuited to the traffic volumes it has to cope with. The construction work is expected to commence in 2017 along a 19km stretch of the route and should take 18 months to complete.
Meanwhile further funding is being sought for a new ring road around Managua. Nicaragua’s Ministry of Transport and Infrastructure (MTI) is in talks with the South Korean Government regarding financing for this project.
In all MTI has a budget of $172.55 million for infrastructure works during 2016 and is aiming to complete 85% of its planned work by the end of August 2016.
Meanwhile further funding is being sought for a new ring road around Managua. Nicaragua’s Ministry of Transport and Infrastructure (MTI) is in talks with the South Korean Government regarding financing for this project.
In all MTI has a budget of $172.55 million for infrastructure works during 2016 and is aiming to complete 85% of its planned work by the end of August 2016.
