LatinNews Daily - 25 May 2023

In brief: Foreign cooperation down in Nicaragua

* Nicaragua’s central bank (BCN) has released new figures which show foreign cooperation to the country in 2022 totalled US$958.3m in 2022, down 34.3% on 2021. The same report showed that 75.5% of the total went to the public sector and the rest to the private sector. The drop owed to a 42.0% decline in cooperation to the public sector while cooperation to the private sector was up 11.3%. Cooperation from multilateral institutions, which accounted for 74.3% of the total, was down 45.7% on 2021. The remainder of cooperation was from bilateral sources and was up 67.6%. Of the total 89.8% corresponded to loans and the rest to donations. The main sources of cooperation were the Central American development bank (BCIE), which provided US$472.4m, the Netherlands (US$120.5m), the Inter-American Development Bank (IDB – US$82.1m), the World Bank (US$62.1m), Germany (US$47.3m), the US (US$28.8m) and the European Union (US$23.8m). The main sectors to receive foreign cooperation were electricity, gas & water, which received 35.5% of the total, construction (27.5%), social services, health, & education (16.2%), and the financial sector (5.7%).

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