Nicaragua Gets IDB Loan for SMEs

The IDB has approved a $10m loan for Nicaragua so the country can assist small and medium companies increase exports and attract foreign investment. Half the loan will be for a 25-year term, with a 5.5-year grace period and a fixed rate. The other $5 million will have a 40-year term and grace period and an interest rate of 0.25%. The government of Nicaragua will provide $437,000 in local counterpart funds.