CIDCA provides RMB 400 million grant for Phase 1 of Nuevas Victorias Social Housing Project (Linked to Record ID#103202)

Project narrative

On December 10, 2021, the Government of People’s Republic of China (PRC) and the Government of Nicaragua re-established diplomatic ties after the Government of Nicaragua broke off its relations with the Government of the Republic of China (Taiwan). Then, on January 28, 2022, President Rosario Murillo announced that the PRC Government had approved an important housing cooperation project with the Government of Nicaragua. On April 27, 2022, China International Development Cooperation Agency (CIDCA) and the Government of Nicaragua signed an RMB 400 million grant agreement for Phase 1 of the Nuevas Victorias National Housing Program. The purpose of the project is to construct 920 two-bedroom, single-story homes in the city of Managua, long with a central square, sports fields and other ancillary facilities. The project site occupies confiscated land in the Sabana Grande neighborhood. According to media reports, the Office of the Attorney General of Nicaragua expropriated 637,298 square meters of eight private properties for the project. The project’s groundbreaking ceremony took place on April 16, 2023. Luo Zhaohui, chairman of the China International Development Cooperation Agency (CIDCA) attended the groundbreaking ceremony. The project is being undertaken by China State Construction Engineering Corporation (CSCEC), with a total construction area of about 35,000 square meters and a construction land area of about 340,000 square meters. Phase II of the project, which will involve building additional houses out of a total promised 12,034 units, is captured via Record ID#103202.