Loan approved with OPEC to improve and expand electricity service on the Caribbean coast

This Nicaraguan National Assembly release was published using machine translation.

With the majority vote of the Sandinista Caucus, the National Assembly today approved the Loan Agreement signed between the OPEC Fund for International Development (OFID) and the Republic of Nicaragua to finance the El Tortuguero-La Esperanza Rural Electricity Transmission Project, on the South Caribbean Coast.

The project, which has an estimated investment of 23 million dollars, of which the OPEC Fund will finance 20.5 million, will benefit more than 300 thousand families in the areas of El Tortuguero, La Esperanza and surrounding communities, and will also contribute to the economic improvement in the zone, said the deputy Jenny Martínez, president of the Parliamentary Commission of Infrastructure and Public Services.

The Loan Agreement, whose initiative was urgently forwarded by President Commander Daniel Ortega, will finance the Construction and Expansion of the El Tortuguero substation and the expansion of the La Esperanza substation, as well as the installation of Transmission Lines, between other services for the connection between the mentioned substations.

Since 2007, the Government of Reconciliation and National Unity incorporated the restitution of rights to the Caribbean Coast of the country as the main axis, said deputy Wálmaro Gutiérrez, after pointing out that this region had remained forgotten and marginalized by the liberal administrations and now they are being is restoring this right, considering that before the laws all Nicaraguans have the same rights.