A Loan Agreement was signed today in Managua, between the Republic of Nicaragua and Kuwait Fund for Arab Economic Development,
whereby the Kuwait Fund provides a Loan in the amount of 4 million Kuwaiti Dinar (KD) to assist in financing the Construction of Prinzapolka Bridge on the Rio Blanco – Siuna National Highway Project.
The Loan Agreement was signed on behalf of the Republic of Nicaragua by His Excellency Dr. Bruno Gallardo Palaviccine (Minister of Finance and Public Credit)
and on behalf of the Kuwait Fund for Arab Economic Development by Mr. Waleed Al-Bahar, Acting Director-General of the Fund.
The total cost of the project is estimated at US$ 16.8 million, equivalent to KD 5.26 million. The loan from The Kuwait Fund, amounting to KD 4.0 million, will cover 76% of the total cost of the Project.