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- Poverty Reduction and Local Development Project
Poverty Reduction and Local Development Project
Nicaragua
| Borrower | Nicaragua |
| Financing Type | Public Sector |
| Instrument | Project Loan |
| Focus Area | Multisectoral |
| Approved | 10.12.2002 |
| Signed | 30.05.2003 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Executing Agency | Emergency Social Investment Fund (FISE) |
| Co-financiers | Government |
| OPEC Fund Contribution (US$m) | 6.00 |
| Total Project Cost (US$m) | 7.50 |
The Emergency Social Investment Fund (FISE) is the single most important agency in Nicaragua responsible for providing basic infrastructure to poor rural communities. The loan will co-finance a series of small-scale sub-projects, selected by FISE in coordination with municipalities, community organizations and NGOs.
To be implemented in the most underserved communities, these sub-projects will include the rehabilitation and construction of schools, water supply and sewerage systems and other vital infrastructure. Beneficiaries will receive maintenance training to insure the projects’ sustainability, and capacity building will take place among government and community organizations. OFID’s loan will be used specifically for the implementation of 150 sub-projects benefiting, in all, around 180,000 people.