LatinNews Daily - 17 April 2023

In brief: Nicaragua and China announce energy, housing cooperation

*Nicaragua’s President Daniel Ortega and Vice President and First Lady Rosario Murillo have met Luo Zhaohui, the president of the China International Development Cooperation Agency (CIDCA), in Nicaragua’s capital, Managua. The meeting produced the announcement of two agreements – one to rehabilitate a 150MW thermal energy plant and the other regarding the launch of phase one of a housing construction project ‘Nuevas Victorias’ involving the construction of 12,034 houses in 84 municipalities across the country. The first phase contemplates the construction of 920 homes in Managua. Also present at the meeting were Laureano Ortega, the dynasty’s most prominent son and a presidential adviser on investment; Finance Minister Iván Acosta; and Energy Minister Salvador Mansell, among others. This is the latest sign of burgeoning ties between the two countries which established relations in December 2021 after the Ortega government made the switch from Taiwan. It follows the announcement of a trade deal in June, among other things.

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