Nicaragua has boosted it budget by $84 million for 2016 in an effort to stimulate the construction sector, local media report.
Public resources will reach around US$600 million and will be aimed to fund infrastructure work such as the Rio Blanco Mulukuku road and the Naciones Unidas-Bluefields road.
The Ministry of Transport will receive $200 million of the budget of which $46 million will be earmarked for the road maintenance fund – Fomav – concerning nearly 2,600kmn or roads.
In addition, money will be allocated for construction of hospitals, schools and other transportation projects.
The Rio Blanco-Mulukuku road is part of a proposed new cross-country link connecting the Caribbean and Pacific Ocean coasts. The Central American Bank for Economic Integration approved a $39 million loan for this section last year.
Public resources will reach around US$600 million and will be aimed to fund infrastructure work such as the Rio Blanco Mulukuku road and the Naciones Unidas-Bluefields road.
The Ministry of Transport will receive $200 million of the budget of which $46 million will be earmarked for the road maintenance fund – Fomav – concerning nearly 2,600kmn or roads.
In addition, money will be allocated for construction of hospitals, schools and other transportation projects.
The Rio Blanco-Mulukuku road is part of a proposed new cross-country link connecting the Caribbean and Pacific Ocean coasts. The Central American Bank for Economic Integration approved a $39 million loan for this section last year.
