UKEF, CABEI to finance $114.6m hospitals project in Nicaragua
The Central American Bank for Economic Integration (CABEI) and UK Export Finance (UKEF) are financing a project to build six hospitals in Nicaragua.
The 'Strengthening the Health Care Capacity of the Hospital Service Network in Prioritized Health Units' project costs a total of $114.6 million, of which CABEI is financing $85 million, with UKEF's participation involving a $29.55 million direct loan and a $66.5 million guarantee to CABEI.
The initiative focuses on the construction of six pre-industrialized and pre-designed modular steel hospitals in five cities in the country, with a capacity of 378 beds and their respective equipment. CABEI financing will be divided into two installments: A first installment will be for an amount of $18.5 million and a second installment for $66.5 million, guaranteed by UKEF. It will have a term of up to ten years and nine months, with a grace period of up to 15 months, at a weighted annual indicative rate of 1.75%.
