Cabei approves US$4.7mn rural power loan

The Central American Bank for Economic Integration (Cabei) has approved US$4.7mn financing for an US$11.2mn rural power program covering nine departments in Nicaragua, Cabei said in a statement. The loan is for 25 years with a five-year grace period. The Inter-American Development Bank (IDB) will match Cabei's loan and Nicaragua's government will provide counterpart funding. The project entails the construction and expansion of 631km of distribution lines and networks benefitting some 48,000 inhabitants in 207 communities, the statement said.