Germany will provide a line of credit of 100 million euros (US$112 million) for geothermal energy projects in Central America, Nicaragua’s El 19 Web site reported.
Nicaraguan President Daniel Ortega met with Klaus Krämer, head of the Division of Regional Development Policy for Central America and the Caribbean of the German Economic Cooperation and Development Ministry, to discuss the project, the Sandinista news outlet said.
German Ambassador to Nicaragua Karl-Otto König said his country had a framework treaty with the Central American Integration System, or SICA, but implementation was on a country-by-country basis, with the total amount of financing at 223 million euros (US$250 million).
“For example, we have decided to make available a new line of financing of more than 100 million euros to be used for geothermal energy. It’s a program in which Nicaragua can participate,” the ambassador said.
“There is the political will on both sides to continue working together,” König said. “The outlook is good.”
The German development bank granted Nicaragua a loan of 6 million euros (US$6.71 million) last Thursday for a water treatment project in Managua.
The Nicaraguan government wants to expand water treatment and build a biogas plant, with the projects expected to take about 36 months to complete, officials said. EFE – Foxnews Latino