Nicaragua Port Project
The Port of Corinto Project for Nicaragua will assist in financing a port development program. Existing port facilities at Corinto are inadequate to handle the present volume of traffic. The rapid increase in traffic has resulted in serious congestion, causing excess traffic to be diverted to other ports. As a result, the flow of Nicaragua's foreign trade has been hampered, causing substantial losses to the national economy. It is urgent that the facilities at the Port of Corinto are expanded to relieve present congestion and insure that the flow of Nicaragua's foreign trade will not be slowed down. The project will accomplish this goal by: 1) constructing a new 1,200 foot quay with necessary services; 2) procuring cargo handling equipment; and 3) installing a water supply system to supply water for both the port and the city of Corinto. These improvements will modernize the Port of Corinto in order to better handle traffic flow and ease congestion for the trade industry of Nicaragua.