Nicaragua: financing for small tourism projects
Qualifying tourism projects will receive loans of up to $35,000, as part of a $5 million fund to help promote investment by small businesses in the Ruta de Café and Ruta de Agua areas of Nicaragua.
The Ruta de Café includes the five departments of North Central Nicaragua - Esteli, Jinotega, Madriz, Matagalpa and Nueva Segovia - a region of cool mountains and cloud forest, which produces outstanding coffee and tobacco.
The "Water Route" goes from the Solentiname islands in Lake Nicaragua to the Caribbean coast via the San Juan River.
The fund, administered by Banco de la Producción together with the Nicaraguan Tourism Institute, currently offers rates of interest in cordobas below 9% – significantly below market rates - with terms of up to five years.
Tourism last year generated revenues of $528 million, 19% more than 2014.