The Inter-American Development Bank (IDB) authorized a disbursement of 10 million dollars to the dictatorship of Daniel Ortega and Rosario Murillo to address the economic losses caused by Hurricane Julia in Nicaragua.
The amount was approved on October 28 as part of a loan greater than 186 million of dollars, which the Ortega administration established with the financial institution in 2014 to be used in cases of emergencies due to natural disasters.
With this disbursement, the Ortega regime accumulates 19.4 million dollars received to cushion the effects that Julia left in the country.
Related news: The Nicaraguan dictatorship will receive half a million dollars from CABEI to attend to the havoc caused by Julia
In addition to the IDB disbursement, the dictatorship received 8.9 million dollars from the insurance company Caribbean Catastrophe Risk Insurance Facility (CCRIF) and a donation of half a million dollars from the Central American Bank for Economic Integration (CABEI).
The Government of China also made a donation to face the ravages of the cyclone, however, the regime did not report what it was. The donation was received by Laureano Ortega, son of the presidential couple, and by the Minister Director of Sinapred, Guillermo González.
According to official data, the economic losses caused by the hurricane amount to 367.8 million dollars. The sanctioned Minister of Finance and Public Credit, Ivan Acosta, He assured that the total damages of the cyclone with respect to the Gross Domestic Product (GDP) of the country are equivalent to 2.6 percent.
Until now, the Ortega administration has detailed that Julia caused damage to the road, social, energy and telecommunications infrastructure; damage to some 15,000 homes and caused 20,000 people to be evacuated, in 123 of the 153 municipalities of Nicaragua.
Given the losses left by Hurricane Julia, the dictatorship has begun the search for funds with the multilateral organizations of the IDB, CABEI and the World Bank (WB), however, Ortega y Murillo has limitations to access international financing due to the sanctions that have been imposed on some state institutions, public officials and family members of the regime.
