IDB Approves $42.5m Nicaragua Loan

The IDB has approved a $42.5m local for Nicaragua in 2 loans to strengthen tax collection and reduce poverty. The IDB financing includes a loan of $21.25m with a 30-year maturity, with a grace period of 5.5 years at a fixed interest rate. The remaining $21.25m will consist of another loan with a term and grace period of 40 years and an annual interest rate of 0.25%. The IDB also approved a $10m loan for Paraguay to help it develop its tourism industry. The loan is for a 25-year period, with grace and disbursement period of 5 years and a Libor-based interest rate.