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Nicaragua secures $214.9M in chinese loans for digital and port infrastructure projects

Nicaraguan President heads anniversary of the Naval Force

Nicaraguan President Daniel Ortega and Vice President Rosario Murillo authorized the Ministry of Finance and Public Credit’s Capital Markets Advisor, Carlos Selva, to sign two loan agreements totaling $214.9 million with Chinese companies. The funds will be used to support a national digital connectivity project and to develop port infrastructure.

The first loan, amounting to $85.7 million, will be signed with China Zhengzhou Coal Mining Machinery Group Co., Ltd. (ZMJ) to supply products and services for the “Digital Connectivity of Nicaragua” project. The initiative will be implemented by the state-run National Electric Transmission Company (Enatrel), according to a presidential decree published in La Gaceta, Nicaragua’s official gazette.

The second loan, valued at $129.2 million, will be signed with China Iconic Technology Company Limited. These funds will go toward engineering studies and designs for the master plan and the initial 32-hectare phase of the construction, expansion, and modernization of the “Julia Herrera de Pomares” logistics hub. The National Port Authority (Empresa Portuaria Nacional) will oversee the project.

According to official figures, China has loaned Nicaragua $919.72 million for various projects so far in 2024.

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International

Pope Leo XIV blesses Giro d’Italia riders in Vatican Ceremony

Pope Leo XIV offered his blessing to the Giro d’Italia peloton, presenting the riders as “role models for all the youth in the world,” as the cyclists passed through Vatican City during the 21st and final stage of the race on Sunday.

Riders pedaled at a slow pace through the famous gardens of the world’s smallest state during the neutralized start of the last stage.

Leo XIV was presented with a replica of the iconic pink jersey—the “maglia rosa” worn by the race leader—by Urbano Cairo, owner of RCS Sport, the Giro’s organizing company.

The cyclists stopped to greet the pontiff, and the four wearers of the race’s distinctive jerseys, including race leader Simon Yates and Mexican rider Isaac del Toro, best young rider, dismounted their bikes to shake hands with him.

“Welcome to the Vatican. I’m pleased to greet you on this final stage of the Giro; I hope it will be a beautiful day for everyone,” Pope Leo XIV said in a brief address.

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“You are role models for all the youth of the world—not just in Italy—because cycling is one of the most important sports in the world,” added the first American pope in history, before offering his blessing to the riders.

The Giro previously passed through the Vatican in 1974 and 2000. This year’s route through the Vatican was initially planned as part of the Jubilee celebrations—a holy year held every 25 years when pilgrims from around the globe visit the city—but later became a tribute to Pope Francis, who passed away on April 21.

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Central America

Panama seizes over 8,000 drug packages in containers bound for Europe

Panamanian police discovered more than 8,000 packages of suspected cocaine hidden in containers that arrived at a Caribbean port from Ecuador, with final destinations in Belgium and Spain, authorities reported.

A police source, speaking anonymously to AFP, confirmed that the drugs were confiscated in Puerto Colón. While the exact weight was not disclosed, drug packages seized in Central America typically weigh around one kilogram each.

“Together with the Public Ministry, we seized 7,000 packages of suspected drugs in a container originating from Ecuador, traced through Panama, and destined for Belgium,” police said via the social media platform X.

Meanwhile, the Prosecutor’s Office reported on the same platform that it had intercepted another 1,268 packages of suspected drugs hidden in a “refrigerated container” bound for Spain.

Authorities in Panama use the term “suspected” drugs as a legal formality while investigations and laboratory testing are carried out.

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Panama and other Central American countries serve as key transit routes for cocaine originating in South America, primarily en route to the United States, the world’s largest consumer of the drug.

However, over the past three years, seizures of narcotics intended for European markets have increased significantly at Caribbean ports in Panama.

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Central America

Panama voices support for India’s permanent seat at UN Security Council

Panama supports India’s aspiration to become a permanent member of the United Nations Security Council (UNSC), said Panamanian Foreign Minister Javier Martínez-Acha during a meeting with Shashi Tharoor, Chair of the Indian Parliamentary Committee on Foreign Affairs, according to an official statement released Thursday.

“You [India] have carved out a place in global governance, and we believe that this governance should include more democratic actors like India in major global decisions. I have always said India must be a permanent member of the Security Council,” said Martínez-Acha during the official visit of an Indian parliamentary delegation to Panama on Wednesday evening.

Tharoor, a senior opposition leader and former candidate for UN Secretary-General, thanked Panama for its support amid what he described as “difficult times” for the Indian people. He emphasized zero tolerance for terrorism, a message he said was central to the delegation’s regional tour, which includes stops in Colombia, the United States, Guyana, and Brazil, according to a statement from Panama’s Ministry of Foreign Affairs.

The Indian delegation aims to explain to these countries the recent crisis between India and Pakistan, which began on April 22 when 26 civilians were killed in a terrorist attack in Indian-administered Kashmir. India blamed Pakistan for the assault, triggering the most serious spike in tensions between the two nations since the 1999 Kargil War.

From May 7 to May 10, the crisis peaked when India and Pakistan exchanged missile and drone strikes along several parts of their shared border, particularly in Kashmir, a region claimed by both countries since their partition after independence from the British Empire in 1947.

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“Mr. Tharoor, your presence here demonstrates a shared commitment to the fight against terrorism and a willingness to stand together in difficult circumstances. We condemn what happened in Kashmir and every act of terrorism anywhere in the world. Such acts must be denounced every time they occur,” Martínez-Acha stated.

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