IDB Lends to Nicaragua

The Inter-American Development Bank (IDB) will loan $186m to Nicaragua’s government to strengthen its disaster response capabilities, it says. The IDB funds include a $93m, 30-year loan from its ordinary capital. This portion of the funding has a 6-year grace period and undisclosed fixed interest rate. The IDB will also provide another $93m, 40-year loan with a 40-year grace period and 0.25% interest rate. The IDB says the country is the second-most vulnerable globally to hurricanes and tropical storms, and 30th in earthquake vulnerability.