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The Millennium Challenge Account: four years Transforming Northwest Nicaragua
The Millennium Challenge Account (MCA)- Nicaragua, a program with funds from the government of the United States, is completing four years of work (June 2006-June 2010) in Northwest Nicaragua.
The program has benefited 113,000 people with the creation of rural business, road infrastructure and property projects. The current investment by the program is US$100.54 million, 88.58 percent of the total donation of US$113.5 million for five years.
To date, 74 kilometers have been rehabilitated in three road sections, facilitating the transportation of new products to national and international markets. Investment in the design, construction and relocation of roads was US$ 58 million.
Rural business projects have benefited over 8,600 producers and SMEs established in Northwest Nicaragua, with technical assistance, supplies, equipment, and marketing support in agriculture, livestock, and forestry.
The region’s labor force is characterized by its flexibility, good labor habits, fast learning curve and low levels of rotation and absenteeism. This has positioned Northwest Nicaragua’s labor force as one of the most competitive and productive in the country.
The proximity to Corinto Port offers enormous benefits to those companies established in the region. Raw materials coming from multiple destinations in the Pacific use the port as their entry-way into Nicaragua to be further processed in the area. In addition, the proximity of the region to Cortes Port on the Atlantic coast of Honduras, just 10 hours by land, allows the easy shipment of containers to the United States’ East Coast. All these location advantages make the region an excellent logistics corridor.
PRONicaragua, the official investment promotion agency of Nicaragua, promotes Northwest Nicaragua as an ideal destination for foreign investment in the Light Manufacturing, Tourism and Agribusiness sectors. Some of the main activities held in Northwest Nicaragua with the objective of promoting the region include the organization of investment forums, promotional missions abroad and customized site-visits of investors interested in exploring investment opportunities in the region.