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Parliament approves Nicaragua's contribution to the Multilateral Investment Fund

The National Assembly (Parliament) of Nicaragua today approved the initiative of the Agreement Establishing the Multilateral Investment Fund III (Fomin III), which is administered by the Bank Inter-American Development Bank (IDB).

Managua, Nov 22 (EFE) .- The National Assembly (Parliament) of Nicaragua today approved the initiative of the Agreement Establishing the Multilateral Investment Fund III (FOMIN III), which is administered by the Inter-American Development Bank (IDB).

With 86 votes in favor, the Nicaraguan Parliament approved the contribution of Nicaragua to MIF III, which is stipulated in 5 million of dollars for the period 2019-2023, declared in the plenary the pro-government deputy Wálmaro Gutiérrez.

Fomin III allows Nicaragua to be part of the countries of Latin America and The Caribbean region receives funding for its vulnerable populations, Gutiérrez said.

"The challenge we have is to bring the MIF to the agricultural sector, to the units productive, to the countryside, to cooperatives, "said the official.

In addition, this contribution admits that the Central American country" promotes the development of the private sector, "he said.

Fomin finances the Biogas Program in Nicaragua with a fund of 6 million dollars and has benefited some 6,000 families in rural areas of this country.

Nicaragua is one of the 38 donor countries of the Multilateral Investment Fund, which has helped to invest and execute projects since its creation in the 1990s.

On this occasion, the MIF III contemplates a donation amount of 340 million dollars, which will work to finance projects from 2019 to 2023.

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