Eximbank loan approved for renewable energy on Nicaragua’s Caribbean coast

On 14 June the National Assembly approved a loan amounting to US$33.3m to finance the implementation of the “Project to Develop Renewable Energy in Rural Areas” that will increase the energy offer in 164 rural communities in 15 municipalities in the Autonomous Regions of Northern Caribbean Coast and Southern Coast and in the region of Rio San Juan.

The loan was approved with 67 votes,  funded by Eximbank and will be implemented by the Ministry of Energy and Mines, benefitting over 10,000 dwellings, 164 schools as well as 22 medical centres.

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Minister Wálmaro Gutiérrez, chairman of the Commission for Production, Economy and Budget, said that the loan will enable over 62,000 people on the Caribbean coast of Nicaragua to benefit from electrical power generated from solar panels.

“These resources are intended to reach communities that, due to their geographical location, cannot be covered by conventional power distribution. The loan is able to guarantee the purchase and supply of solar panels to each and every party involved so that they can illuminate their homes and enjoy energy within their communities” noted the minister.

Meanwhile Minister Loria Raquel Dixon, Second Secretary of the Governing Council of the National Assembly, stated that “this loan is a way to restore the rights of the indigenous and Afro-descendent population that have had no access to electrical power for many years”.