EIB finances Bus Rapid Transit project in Nicaragua

On May 15, the European Investment Bank (EIB) has signed a loan agreement with the Minister of Finance and Public Credit of Nicaragua to support a Central American country’s project that aims to create a new lane reserved for buses on the Avenida Juan Pablo II.

To lighten traffic and provide connections between the suburbs and the city center, Nicaragua plans to build a new Bus Rapid Transit (BRT) line in the capital city, Managua.

The Avenida Juan Pablo II is to be widened from two to three lanes in order to integrate the new bus dedicated lane. The near 10km long corridor will include seventeen stops and is expected to be used by 80,000 passengers daily.

The EIB has provided $136M to support the project.

EIB vice president Román Escolano said: “One of the objectives of the EIB - the EU bank - in offering favourable financing terms is to foster sustainable economic growth in Latin America. Today’s loan represents a good example of our support for projects providing people with more rapid, safe and sustainable means of transport.”

The project also foresees the construction of a new bicycle lane alongside the new corridor as well as the enhancement of pedestrian areas by means of new overpasses and traffic light crossings.

Renovations of the drainage system as well as the sewerage, electricity and communications networks are expected.