Brazil bank and companies to help Nicaragua build $800 million hydropower plant

A bank and companies from Brazil will help Nicaragua finance an $800 million hydroelectric power plant on a river that flows to the Central American country's Caribbean coast.

 

Daniel Ortega, the Nicaraguan president, says Brazil's Banco de Fomento will provide $342 million in financing for the plant, which would have a peak capacity of 250 megawatts.

 

Two Brazilian companies will provide another $206 million in credits, and the Central American Bank for Economic Integration will put up another $252 million.

 

Original source: Associated Press